Gold should pull back here after hitting major resistance at 50% retrace from the all time high.
I'm bullish on gold long term. However, with the current overbought levels (RSI touching 85), its time for a pull back to confirm the highs from last 5 years as strong floor/support for the coming bull market.
(Thanking @markirvest for posting a similar idea with more detailed info)
Entry at 143
Stop Loss: 145
Target1: 136.7
Target2: 132-130
Timeline: 1 month
I'm bullish on gold long term. However, with the current overbought levels (RSI touching 85), its time for a pull back to confirm the highs from last 5 years as strong floor/support for the coming bull market.
(Thanking @markirvest for posting a similar idea with more detailed info)
Entry at 143
Stop Loss: 145
Target1: 136.7
Target2: 132-130
Timeline: 1 month
Note
Investopedia - Elliot Waveinvestopedia.com/good-time-to-sell-gold-4768094?utm_campaign=quote-yahoo&utm_source=yahoo&utm_medium=referral&yptr=yahoo
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.