Gold Update - Red Bar Test
Updated
Gold seems to be itching to retest an area that was important for transition during 2016.
I am still long in miners, and it has been clear over the past week that gold has broken it's downward trend.
Depending on how my natgas trade plays out over this week, I will be taking my profits from that trade and buying any dips in gold.
I am still long in miners, and it has been clear over the past week that gold has broken it's downward trend.
Depending on how my natgas trade plays out over this week, I will be taking my profits from that trade and buying any dips in gold.
Note
Very bullish that the DXY dropped today, and gold held it's own after those fed minutes.Gold seems destined for the transition area right now, and a strong close above 1165 on the week is key.
Note
NFP payrolls should give us tons of action tomorrow.A close over 1180 for the week would be golden here for bulls...pun intended.
Related publications
Disclaimer
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.