Gold could drop another $25 next before starting a fresh proper rally. I expect it to return to and breaking the 1240 level, which will continue its ascend towards the 1300 levels.
I will flip to short if it breaks and holds below 1180.
I will flip to short if it breaks and holds below 1180.
Note
Being bullish on gold personally, this worries me a little bit. I think if we don't hit the bottom red zone we'll have to flip short for the following weeks to come.
I've drawn the red arrows wrongly.
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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.