Gold to fall for the next 1-2 months
- Bouncing off the top of the LuxAlgo
- Retail is buying for fear of the current economic uncertainty, so it's a good time for whales to squeeze the longs (and create even more uncertainty/FUD, to be exploited later)
- JP Morgan has a huge short position
- Multiple indicators are all pointing to an oscillation reversal (e.g., MACD about to cross down, RSI about to cross down, etc.)
- I don't expect the price to reach too low. Around $34.88 for the IAU ETF.
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.