The weekly chart shows the recent surge is likely topping, and might start falling between now and the next 3 weeks probably. Fundamentals favor a decline as governments go into spending binges to counteract the virus induced crisis. @timwest pointed out this short idea recently, props to him for spotting it. I do like how wild the disconnect vs #Gold is now, might be interesting to look into trading the spread soon.
As a sidenote, the asset classes that sold off while this rally was occurring might turn around by the 2nd week of April (like stocks and #Bitcoin).
Cheers,
Ivan Labrie.
As a sidenote, the asset classes that sold off while this rally was occurring might turn around by the 2nd week of April (like stocks and #Bitcoin).
Cheers,
Ivan Labrie.
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For now I'm out of this trade.
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It sure peaked but the Fed keeps it supported for now.
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A guess...
A guess...
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This guess could be what we get over time, right now basing, could grind higher before dropping again once the Fed tapers and they start rising rates.
