A Blog of Commentary and Ideas from an FXstreet Premium Member by 
Greetings again, Everyone!
Gold and Crude Oil continue to hold their “Inverse” Correlations with the Low-Yielders, as The Risk-Averse “Brothers” of The Dollar and Yen continue on.
While Accumulation is being Seen, Gold and the August Crude Futures Contract now see rather “tight” Ranges in Price this “late” in the Trading Day.
Most Majors have picked up some clear Bounces off of Support and Resistance Levels, as Dollar and Yen have giving up some gains ever-so-slightly… but Gold and Crude still appear ready for continued Depreciation out of their IntraDay Areas.
Here are the Hourly Captures of both for various Levels, and Post-Time is 21:15 GMT.
Gold gets “trapped” in a “Loose Wedge Flag” Formation here… as well as the approximately $6.00 Horizontal Range. Price needs a Clip of the $927.80’s for even a bit of “Neutrality”… or a Breach of the $920’s for further Depreciation which looks to be in the Immediate-Term Favor.
Crude is perhaps the more “Clear” Depreciator of The Commodities, where we are currently at a Six-Week Low… as it is certainly Out of Favor on an IntraDay View.
Dollar Strength continues to “whittle away” at Price, where a defined L.R. Channel has been anchoring Price for several days now.
So there we are for now!… and we will see what the U.S. Close brings us as The Dow is rather “Flat” as of this Writing.
Please join me again, as always and I hope to see you soon!
