Bitcoin US$341,250? This Is Not a Forecast….Well Not Yet!

Junior Gold Miners Index Rebalance: Northern Star Deletion Could Provide a Good Entry Point

Chart based progressive global trading strategies, Chart Partners

Thomas Schroeder

Chart based progressive global trading strategies

Chart Partners

Chart Partners objective is to discover medium-term cycle turns and profit opportunities before they unfold, within structural trends while preserving capital with clear degrees of risk. We have real return ideas. 

Markets are dynamic and trading systems must reflect this. It is crucial to determine underlying correlations and lead-lag relationships within global markets and the impact on linked instruments. Our weekly Chartonics product gives you short-term trading strategies that can be applied within the medium and longer term macro trends that are mapped out in our strategy updates. 

Our methodology fuses global market variables and isolates drivers in trends. We specialize in FX, index trade in NY and Asia with a focus on Asian stocks. 

Technical Analysis

Gold has been left on the back burner as crypto takes the limelight of late. Worth noting that Gold held up well in the face of the recent yield spike and even rallied from the 1,680 long support and is due to break higher to challenge the key 1,780 bull/bear level represented by the descending wedge trendline resistance.RSI exhibits a bull bias to break wedge resistance to spearhead a continuation of gold's rise. A dip and breakout rise in the USD will induce clear headwinds for gold that aligns 1,780 capping this drive. It is this near term dip in the dollar (risk on) that will help lift gold.

Gold has been left on the back burner as crypto takes the limelight of late. Worth noting that Gold held up well in the face of the recent yield spike and even rallied from the 1,680 long support and is due to break higher to challenge the key 1,780 bull/bear level represented by the descending wedge trendline resistance.RSI exhibits a bull bias to break wedge resistance to spearhead a continuation of gold's rise. A dip and breakout rise in the USD will induce clear headwinds for gold that aligns 1,780 capping this drive. It is this near term dip in the dollar (risk on) that will help lift gold.

Gold

Gold 1,780 Hurdle Out of Bull Flag