Gold could be in trouble
Updated
After crazy run up on a 2h time frame, Gold has shown us a corrective move which I expected and warned about just a few days ago. (I apologise for sound quality. I recorded this from my laptop)
There is an important trends switch on the 2h time frame but it is early days.
Have a look but be careful. If shorting, avoid FOMO.
Disclaimers: This is not advice or encouragement to trade securities. No predictions and no guarantees supplied or implied. Heavy losses can be expected. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, or miss opportunity, kindly sue yourself.
There is an important trends switch on the 2h time frame but it is early days.
Have a look but be careful. If shorting, avoid FOMO.
Disclaimers: This is not advice or encouragement to trade securities. No predictions and no guarantees supplied or implied. Heavy losses can be expected. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, or miss opportunity, kindly sue yourself.
Note
There is unclear and emerging word of some sort of crisis with gold ETFs and 70 tons of gold held by the Bank of England. I don't know exactly what it all means. Gold permabulls and those who run gold-investment businesses say that it's a good time to buy the dip. There may be other effects. The bond market dump (on 10 year yields) seemed associated with money moving into Gold, possibly as a hedge. However, things may be about to change. As recession approaches, there could be more movement back into bonds in which case hedgers may dump more gold.
I don't know what's the full story. If someone with greater insight knows, do share with all of us.
FED balance sheet 42% of GDP @ 2020-01-26. Does money have value anymore? [Different perspective on the virus youtu.be/NjTdvALChwk ]
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