I see Bonds going down and testing the last monthly high here.... at about 136.90, this month. Is there any reason for not going down to this price level ??? So if it goes down, then this should be a very bullish indicator for Gold, shouldnt it ???
I can see what Gold will do on the 4h chart the next hours. But i cant see what it will does this month.
US Bonds & Gold/USD are the strongest correlated marketes i know. I never have seen anything more correlated than this. Not even the Stock Indices and Gold are so strong correlated. So if the correlations are worth anything, then the falling Bonds should push Gold to test the last highs on the Weekly chart, maybe its attacking the overall high. Money can only do one thing, go in Bonds or go Gold. One goes up and the other down.
those wide spots are where the most trades took place,so it stops there as the left over longs or shorts cover for a scratch ,if there are enough it will change direction,if not,once exhausted and out of the way it will continue to the next spot, the narrow is a gap fill mentality