Last month I mapped out the DXY chart using the macro fib extensions. Today, the index fast approaching the next fib level at 91.77 and at the moment of typing, is finding support at 93.20, a previously supportive level.
DXY is heavily influencing Gold right now and because a dead cat bounce is likely, I've closed my Gold futures position and trimmed my position in GLD.
DXY is heavily influencing Gold right now and because a dead cat bounce is likely, I've closed my Gold futures position and trimmed my position in GLD.
