Again the charts don't lie ,
Selling gold at the 1770 area ( short term ) . Just need to close above the 0.786 fib line on the weekly for the run to continue.
Important to know Im a long term bull of gold .......
As pointed out previously we were due a break out of the Bullish pennant , it broke, we hit target and now Im waiting to go short at the top end of things ........
Why because if Oil start to recover after cuts in production being made, and comments saying NO REASON FOR OIL TO GO TO ZERO AGAIN means they will now try to gain control of the supply and demand Glut and start being pro active, instead of dismissing it before , Oil going to zero for the point to be made .
Does this mean we are out of the woods with Oil ? NO but progress is being made which means a risk tone in the MKTS will return and safe haven profits will start to roll out ....
Have a great Friday everyone ..........
Selling gold at the 1770 area ( short term ) . Just need to close above the 0.786 fib line on the weekly for the run to continue.
Important to know Im a long term bull of gold .......
As pointed out previously we were due a break out of the Bullish pennant , it broke, we hit target and now Im waiting to go short at the top end of things ........
Why because if Oil start to recover after cuts in production being made, and comments saying NO REASON FOR OIL TO GO TO ZERO AGAIN means they will now try to gain control of the supply and demand Glut and start being pro active, instead of dismissing it before , Oil going to zero for the point to be made .
Does this mean we are out of the woods with Oil ? NO but progress is being made which means a risk tone in the MKTS will return and safe haven profits will start to roll out ....
Have a great Friday everyone ..........
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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.