Gold trend was up from 1921 (April 4, 2022) to 1995-1998 (April 18, 2022) because the Russia Ukraine did not reach a peace deal after many weeks of crisis.
Gold trend suddenly turned down because it has been sold off heavily from 1995 to 1939-1941 in the last 3 days because US Treasury Yield has gone up to 3%.
God failed to break the 1939-1941 to continue its short term down trend after Mr. Powell 50pbs hike in May comment. Mr. Powell hawkish rate comment is suggesting gold to go down, but there is news that Russia has taken control of Mariupol which is supporting gold to go up.
Gold has been consolidating from 1939-1959 for many hours while to wait for a break-out of the 1939-1959 to start a new trend.
Case 1: gold will be sold off to 1925-1930 and further if USD Index goes up following Mr. Powell comments.
Case 2: Gold will go up to 1968-1975 or 1995-1998 if gold goes up following Russia Ukraine crisis.
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