vrijdag 4 augustus 2017

Gold Tumbles To Key Technical Support As Dollar 'Dead Cat' Bounces

The Dollar Index is spiking phoenix-like from the flames of collapse this morning on the basis of one jobs number (and still-low Dec rate-hike odds). Gold is reacting to this kneejerk, tumbling over 1% and testing down towards its 50- and 100-day moving-average support. We have seen this kind of squeeze in the dollar index before (cough last week after The Fed's plunge)...


But gold is breaking down, running stops below the week's flash crash lows and testing towards its key technical support...


Gold 50DMA at $1259.20, Gold 100DMA at $1260. Gold 200DMA at $1244 Stocks just dropped into the red post-payrolls...