Gold (XAU/USD): Gold tanks as DXY rebounds

 


Gold was rejected at the trendline resistance, ~ the $2,060 level, and may be heading down to retest its 50-day EMA at ~ $1,984.42 if the DXY index continues to rebound. To make it even more bearish, a double-top is confirmed if gold closes below $1,990.50. Gold bugs should beware that, "President Joe Biden finally feels good about his chances of striking a debt ceiling agreement in time to avert economic catastrophe", per Politico.

This note contained herein is not and should not be construed as a recommendation to buy or sell. Click here to view the latest update!

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