After a long run over the years, Gold climbed up to 3200 USD/oz.
The ETF GLL Ultra Short, which is leveraged by factor 2, seems to reach a bottom.
Reasons for bottom
- traded Volume very high
- excellent Elliott-wave structure in several time periods
Fear factor will be reduced: Toll Bomb will not exploded. Mr. Trump seems to go very elastic in these theme and will give time for negotions.
All in All: Gold very clear for an first correction towards 2800-2900, later on 2500 USD/oZ
The ETF GLL Ultra Short, which is leveraged by factor 2, seems to reach a bottom.
Reasons for bottom
- traded Volume very high
- excellent Elliott-wave structure in several time periods
Fear factor will be reduced: Toll Bomb will not exploded. Mr. Trump seems to go very elastic in these theme and will give time for negotions.
All in All: Gold very clear for an first correction towards 2800-2900, later on 2500 USD/oZ
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Disclaimer
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.