1pm update - metals having problems

Whilst equities hold minor gains, there has been a notable snap lower in the precious metals. Broader price formation on the daily and weekly cycles remain bear flags within a viable giant H/S formation... the psy' level of $1000 for Gold looks due this summer/early autumn.


GLD, 5min

GLD, daily

Summary

*understand my focus this hour on Gold.. which I remain short. Relative to the USD weakness, this is a really dire performance for the metalic relic.
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As for equities, we have an interesting afternoon ahead, with a Fed beige book and two fed officials due to speak.

The daily close will be VERY important. Arguably, equity bears need a sub sp'2110 close to hold out a 'moderate hope' that the low 2080s are still viable before the weekend.
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stay tuned!