Gold: Next phase of downtrend
Gold has performed weak post FOMC.
Weekly trend is pointing down and daily is about to turn.
Lots of things on the lips of the public these days.
FED printing, FED repo operations etc etc etc. Lots of fundamental reasons for why gold should skyrocket. I turn off all opinions and just trade what the cycles tell me to do.
I started building short position - slowly - on the spikes upward this week. Today is my mean date of this particular cycle high, which could extend till Monday at latest (but not very likely). It should bottom around Nov 25.
Im in genral bearish on gold till around April 20 2020.
Weekly trend is pointing down and daily is about to turn.
Lots of things on the lips of the public these days.
FED printing, FED repo operations etc etc etc. Lots of fundamental reasons for why gold should skyrocket. I turn off all opinions and just trade what the cycles tell me to do.
I started building short position - slowly - on the spikes upward this week. Today is my mean date of this particular cycle high, which could extend till Monday at latest (but not very likely). It should bottom around Nov 25.
Im in genral bearish on gold till around April 20 2020.
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