How to trade gold after today.
Updated
This was the break we were looking for. Now the price is set to converge towards 1352. 1352 will be where the market decides do we go up $100 or down $100.
The resistant trend we just ran into is long running and very strong. If we break it we will test the next trend and consolidate towards 1352 as well. I don't think we will break it and will look for a pull back to our (hopefully) new supportive line. Even if the price goes below this trend there is now 1310 to contend with.
The resistant trend we just ran into is long running and very strong. If we break it we will test the next trend and consolidate towards 1352 as well. I don't think we will break it and will look for a pull back to our (hopefully) new supportive line. Even if the price goes below this trend there is now 1310 to contend with.
Note
Exactly as predicted but now with equities about to confirm bear market, 1352 to 1250 makes more sense. We are now looking for Dow of about 22400 followed by a big bounce in equities and gold.Note
False breakout of our 1352, dollar strength and weakening equity markets short term. Looking to buy 1320.
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