/GC gold is backtesting the 60-minute uptrend line + 1952ish resistance level while the $USD is backtesting key support: A rejection here would be near-term bearish with a solid break above near-term bullish (assuming $USD confirms). I still favor the former, which would likely mesh with the “oversold/counter-trend rally in the stock market” scenario, as the “risk-off” bid would likely be reduced for gold as/if stocks rally although I am very open to the possibility of a solid breakdown in the $US Dollar (see below) and breakouts & gold & silver (also below).
GC 60m Sept 9th
/SI silver is still pinching between 27.308 & 26.220 with a solid break above or below the trading range likely to determine the next near-term trend. 60-minute chart below.
SI 60m Sept 9th
Last but certainly not least, /DX ($US Dollar futures) is backtesting the intersecting 93.191 + minor trendline breakout levels (now support levels) while also cracking slightly below a small bearish rising wedge (yellow): Bullish if /DX reverses & rallies off this level, Bearish if it drops much lower. 60-minute chart below.
DX 60m Sept 9th