Upside potential on Gold
Updated
There's a few indications for us to be bullish on gold:
- Price is supported on the daily level at 1455 range
- The selloff on gold is slowing down
- Specifically, we can see accumulation with every sell off, which is signalled by the bullish green bars
- Once offers have been exhausted, we should see gold soar from a series of covers and new entries
Note
Quick chart to show the daily support holding up.
Trade active
Gold has rallied hard, currently still holding a long position:Trade closed: target reached
Gold continued to surge. Trade exited as price begins to stall. There is a fundamental driver of a gold shortage. Typically, price should soar when there is a "shortage" of anything. I could possibly be making a mistake for getting out where I did.
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