Inverse correlation between Gold/copper VS. Yield
We have a very nice inverse correlation between Gold/Copper (XAUUSD/CPRUSD) VS. TNX ( 10 year yield).
in the red zone we see TNX going down while The Gold/copper chart resist to go up...
Maybe ( and just maybe ) TNX was making a bull flag and according to this inflation we may see more upside from TNX and then Gold/Copper will go down.
My goal range for TNX is about 1.92 while we are approaching to the end of the year and we may see Gold again in 1600$ range.
Going up in TNX will hit the bond market and a lot of money will flow into stock market ( positive for #SPX #SPY), and the result will be drastic uspide move into stock market.
How long will this continue, is the question.
What s your IDEA ? put it in comments.
in the red zone we see TNX going down while The Gold/copper chart resist to go up...
Maybe ( and just maybe ) TNX was making a bull flag and according to this inflation we may see more upside from TNX and then Gold/Copper will go down.
My goal range for TNX is about 1.92 while we are approaching to the end of the year and we may see Gold again in 1600$ range.
Going up in TNX will hit the bond market and a lot of money will flow into stock market ( positive for #SPX #SPY), and the result will be drastic uspide move into stock market.
How long will this continue, is the question.
What s your IDEA ? put it in comments.
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