Gold Price Takes a Petrodollar Hit, but the $5,000 Setup Survives
This slip-and-slide came right after the US Dollar Index (DXY) bounced up 0.65% from a modest low of $98.52. It seems the good old petrodollar, that trusty old friend, decided to come back into the picture, lending strength to the dollar as oil prices did their little waltz back up. However, fear not, dear reader! There are still some cheeky bullish signals lurking beneath this temporary setback, keeping the $5,000 dream alive. A bullish divergence, an eager 20-day EMA (Exponential Moving Average), and a rather cheeky gold-silver ratio are all hinting that the path to $5,000 remains as intact as your grandmother’s china collection.




