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.
Note
Trade closed manually
For now I'm out of this trade.Note
It sure peaked but the Fed keeps it supported for now.Note
A guess...
Note
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.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.