The charts suggest that gold may be heading for a brief pull back.
My initial target is the 1290s.
The 1315 level would need to be breached to confirm a pull back from very overbought conditions.
In my view, any pull back is an excellent buying opportunity after such a fast run up in price.
Longer term, numerous threats are arising to financial stability and confidence in the dollar and bond market.
We will examine four scenarios in a post soon.
My initial target is the 1290s.
The 1315 level would need to be breached to confirm a pull back from very overbought conditions.
In my view, any pull back is an excellent buying opportunity after such a fast run up in price.
Longer term, numerous threats are arising to financial stability and confidence in the dollar and bond market.
We will examine four scenarios in a post soon.
1360-1370 soon relying on this PW
ReplyDeletehttps://www.tradingview.com/x/9X4l5NwJ/
Please be well
The 1360+ level is important resistance for gold to take out. Perhaps it pulls back first? The strength of the current move is encouraging, but I will not get complacent.
ReplyDeleteThanks for the well wishes.