Jordan Roy-Byrne CMT, MFTA on 2022-01-20 01:34:11.0
Real yields have broken out to a new 52-week high. The market has priced in 4 rate hikes in 2022. Long-term yields have risen. The dollar is near its recent high. All of this and Gold has held strong and pushed higher. It is very bullish when a market ignores bad news.
The key technical level for Gold is trendline resistance at $1850-$1855. Then you have weekly, monthly and quarterly resistance at $1900. The initial risk is Gold gives back this gain and loses $1830 by the end of the week. If not, and Gold breaks past $1850-$1855 then it could rise as high as $1900 during this move.
