What are the chances of this.
A Backward wedge on US 10 year treasury yields - just when we are seeing signs of USD strengthening and Gold to get hammered in the medium term.
Backward wedge has already broken upwards – that has been causing GOLD prices to fall – perfectly timed.
Historically GOLD was not that closely correlated with Bond Yields, but as of late, something to do with all the money printing has made Gold and US10 bond yields highly correlated.
Once again 61% FIB level is a key S/R level.
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