MacroVoices #376 Tian Yang: When the Recession Becomes Obvious
Macro Voices
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The Gold Futures Chart
We need a daily close over 105 on the Dixie to declare a new trend and we don't have that. We're still consolidating in a fairly wide range between 100 and 105 until proven otherwise. It'll be interesting to see what the dollar does as we approach a typical retracement area. Long gold has become a crowded trade, I think some of them are perhaps about to take a swim. But Tian's scenario of a deeper correction makes perfect sense.
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