Gold short
Updated
20 Aug short
- bearish on weekly view
- forming double top on daily view
however -- might not be a deep dip rather just a take profit correction -
fundamental makes it likely that investors have no where else to go but equity and gold so the sell-off wont be sharp --> i doubt a sharp rise - everything already overbought unless a shifting fundamental is to come, pushing gold deeper into the overbought region
Indicators
- bearish on monthly view, weekly AND daily
Next short target region as charted.
- bearish on weekly view
- forming double top on daily view
however -- might not be a deep dip rather just a take profit correction -
fundamental makes it likely that investors have no where else to go but equity and gold so the sell-off wont be sharp --> i doubt a sharp rise - everything already overbought unless a shifting fundamental is to come, pushing gold deeper into the overbought region
Indicators
- bearish on monthly view, weekly AND daily
Next short target region as charted.
Note
Confirmation if breaks upward trendline - which has not been preached since rise from the March low
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