12/21/2021
Gold's performance has been mostly red after mixed signals from the Fed and heavy volatility towards the holidays has taken its toll on the precious metal. Discussions and outlook remain uncertain as price action remains unpredictable.
Global market outlook
Mixed
Retail sentiment
Our bias
The market is too mixed right now to really pick a clear direction, at least for the entire year of 2022. Without a clear statement from the Fed, we can only measure the possibilities. It looks like the metal may start off bearish in 2022, after looking at the behavior in the COT reports along with the announcement from Biden to keep the economy open regardless of the new omicron variant.
Trade Setups
GDP numbers came in lower than expected in the US, marking the third straight drop in economic output. This is usually good news for the stock market indices and gold, however, bond yields continue to hold up above 5.1%. Here are some potential trade setups for both dollar and index longs depending on how the […]
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Last Friday's report showed a significant change in global market sentiment from smart money. What COT signaled has turned ultra-risk-off for traders who have been hoping for Fed fears to subside. This news could spark up worries about higher interest rates for the long term. EdgeFinder Analysis GBPUSD is now a -12 on the EdgeFinder […]
