🥇 Gold, Bitcoin, S&P 500 Index & The Rest!

They all move together... Even though the charts are different and produce different clues and signals; Even though the charts provide us with different data points, they are all the same. Either aligned or in reverse.

➖ When one goes up, the rest goes up.
➖ When one goes down, the rest goes down.

➖ When one goes down, others start to go up.
➖ When one starts to go up, other start to go down.

This is the relation that is 100% confirmed by looking at the charts across different markets.

Gold and Bitcoin move together, as in a positive correlation, the S&P 500 Index so far is the same.
The Dollar Index (DXY) moves inverse to these, when it rises they drop, when it drops everything grows instead.

As for the Gold (XAUUSD) chart we have a rising wedge. This pattern breaking bearish means that we will see lower prices short- to mid-term.

👉 The main target here is $1,880, it can go lower but we will revisit a few weeks into the future.

Thank you for reading.

Namaste.

Kommentar:

Breakdown confirmed!

➖ We have a lower high 12-Jan vs 28-Dec.
➖ Today a full red candle with high volume.
➖ RSI turns bearish (below 50).

Markets that have been moving together with Gold (XAU) are very likely to move lower as well, i.e. Bitcoin (BTC).

The DXY has gone bullish which is no surprise, it moves inverse to gold.

Kommentar:

Gold continues ultra-bearish; Moving below EMA10 weekly for the first time since May 2023. Major correction starting soon...