Commodities have being much more volatile than they used too, from metals to oil, we saw fast and sharp spikes in both directions as news hit mainstream media.. but the trends looks still the same: probably they peaked.
(I didn't short gold, is just the same imaginary position I post about days ago..)

Gold, Silver and Oil spiked and reached levels they saw just few times. While metals are already in their chopping/consolidating flohase since a couple of months, oil apparently just started and IMO may go down from here and we shouldn't see it over 110$ again for this summer.. unless same other big thing happens or escaletes rapidly again.

Another interesting chart is BTC/GOLD were you can see how bitcoin bottom and Gold peak are very likely confirmed. Not saying Gold will go lower for all the year on, just that compared to bitcoin will lag a lot IMO.
(To be fair, Gold RSI in the 4hr chart doesn't look bad and like wants to revert, but looks weaker than bitcoin.)
The stoopid line looks like is working..

#macro #commodity #finance #economy #gold #btc #oil