Have the Inverse Directional Post-Trump Reactions in Gold and The Dollar Reached Extremes?

From the look of the enclosed inversely-related, mirror images of DXY vs. Gold, my pattern work suggests strongly that each has a bit more road to travel in its current direction prior to my expectation of a significant reversal--down in the Dollar, and up in Gold.

In terms of spot Gold, my target window is $1223 to $1205, from where I will be expecting a pivot upside reversal into an upside traverse of its July-Nov price channel (see light green demarcation lines on the lower chart).

Such a scenario will argue for one more pop in the DXY to a 99.10/40 target zone, prior to the initiation of a downside traverse of its May-Nov price channel (see red demarcation lines in the upper chart).

  • Action-Oriented Trade Set-Ups in Stocks & ETFs
  • Macro Analysis of the Broader Markets
  • Detailed Technical Guidance for each Trading Idea
  • Live Interaction w/ Mike & Our Member Community
  • And Much, Much More!
Join Now! - Special Offer!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!