|30 min GC - note green arrow @|
Specifically this evening gold failed the 1661 metric as we first highlighted on our twitter feed.
Once this metric failed you can see in the chart below the price action looked much like stop hunting into 1655. Under 1655 we got a low or 1645.60 a loss of 24.60 points or 1.47%. This moves comes on top of a 26 point regular session gold loss. So we are right at about a 50 dollar loss in about 12 hours.
DX futures are pushing up near a break out over 80.80, currently 80.788 trading, this bid has not relented since mid day wednesday. Anytime you have the dollar acting out alone you get weird action in metal and energy markets, specifically crude.
|5 min GC|
A 15 min ES chart is below showing the gap under 1440 and the air under 1450. Trade em accordingly.
|15 min ES|
|30 min SPY|