Gold short term retracement, mid-long term bullish
Updated
Gold has broken out from its long term consolidation with a rounding bottom.
Expecting minor retracement back to $1450 levels which coincides with the short term support and 1st fib level retracement for bulls to recharge before pushing new yearly highs again.
4H time frame shows exhaustion with a descending triangle forming.
Buy the dip.
Expecting minor retracement back to $1450 levels which coincides with the short term support and 1st fib level retracement for bulls to recharge before pushing new yearly highs again.
4H time frame shows exhaustion with a descending triangle forming.
Buy the dip.
Note
China retaliates on the trade war.Causing US stocks to crash n gold to surge.
Stopped out from this trade. Back to being bullish
washingtonpost.com/business/2019/08/23/china-hits-us-with-tariffs-billion-worth-goods-reinstates-auto-levies-state-media-report/
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