🐻 Get down on it, get down on it!Kool & the Gang is getting down and so is Gold!
Gold is cloesly trading at its previous low. For now we still expect a final push in the $1980s region, where a sharp change in trend should happen. The turnaround zone is indicated by the yellow box. In case the bears are highly motivated and manage to break below $1916, the downward move could accelerate. Next stop would be the $1810 region, so shorts under $1916 might be a good idea.
What are your thoughts on our scenario?
Happy to discuss!
