The Dollar is testing resistance at 97.50 after poor progress in US-China trade talks. Breakout would signal an advance to 100 which would be bearish for gold.
Spot Gold found short-term support at $1300/ounce. Expect a test of support at $1250 but a fresh Dollar advance would threaten primary support at $1180.
Colin Twiggs is a former investment banker with almost 40 years of experience in financial markets. He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters.
Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis.
Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008/2009 and 2020 bear markets well ahead of actual events.
He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.