Gold's Big Break Thursday May Have Opened the Door to Retesting Lows
The following are the latest daily summaries of my ongoing intraday coverage providing context to interpret price action. Any prices listed are for a contract's current "front month." Their direction tends to correlate with any ETFs listed for each. Today’s Highlight: Crude oil rejected Wednesday’s late drop by gapping up but didn’t extend higher intraday. Gold rejected last week’s rally but didn’t extend down intraday. Dollar Basket Mar Contract DX; (NYSEARCA:UUP) (NYSEARCA:UDN) Ranging between 79.85-80.20 Thursday offered no predictive value. Eurodollar Mar Contract EC; (NYSEARCA:FXE) Thursday’s gap up extended higher intraday to test the range’s 1.3380 upper-end. Despite probing ...
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