CFD Oro (US$/OZ)
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Gold Consolidation into August

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This should hopefully serve as a continuation to my previous 'bearish' gold chart. I am long term bullish, but expect a DXY bounce out of oblivion to put commodities in general under pressure.

I think once our long-term EMA is crossed we may expect another chop around below that level into July/August. Gold base should form around 1660/1680, highs will come swiftly once back above the 200 EMA. DXY may reach 100+ where bond yields continue to rise.

Good luck out there!
Nota
See my latest thesis, where I predict the MARCH ARCH, providing support before resumption and re-test into JULY. Consolidation over/breakout in August.

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