Gold update 13.04.23
Yesterday Gold fell after the bullish CPI, clearing the liquidity from the buyers.
At the moment, I have no reason to believe that gold will turn bearish. Some people may see a trendline retest, others a head and shoulders. I see: daily closes for gold and silver were bullish, GDX made new higher high. So monthly, weekly and daily time frames are still bullish.
I will most likely change my bias when the 15 min manipulation zone breaks, but until then I am bullish on gold.
Silver
It seems that the breakout is confirmed.
GDX
As I said no signs of weakness.
Yields
They are still maintained from the channel.
Benchmark
Still no reason to switch bearish.
At the moment, I have no reason to believe that gold will turn bearish. Some people may see a trendline retest, others a head and shoulders. I see: daily closes for gold and silver were bullish, GDX made new higher high. So monthly, weekly and daily time frames are still bullish.
I will most likely change my bias when the 15 min manipulation zone breaks, but until then I am bullish on gold.
Silver
It seems that the breakout is confirmed.
GDX
As I said no signs of weakness.
Yields
They are still maintained from the channel.
Benchmark
Still no reason to switch bearish.
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