January 26, 2021 - (Gold Market Wire) - Gold is stalling out below the 50-day moving average and needs to get a move on soon if it is going to prevent another sell-off. Right now we are heading towards a show down at the end of the week, defined by our short-term uptrend and our longer term down-trend. A straight "odds on" examination, one would have to give the nod to the Bears. They have both the 50-day moving average and a consolidating Dollar rally at their back. The chart lays out Gold's dilemma.

We can't help but surmise that the Gold market wants to wait for the US Dollar to resolve itself before making a move. If so, that makes for a dangerous state for the Gold Bulls. As the EUR/USD gets ready to challenge the 50-day moving average, the Dollar looks to be building strength - much to the consternation of the chattering classes who have been screaming about the Dollar's demise for years, and, especially, in the past three months. It isn't happening - no matter how much they want it to! The unison of that echoing chorus should be enough, alone, to indicate that they are most likely wrong.

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