Gold idea TRIANGLE
Gold markets have pulled back a bit during the trading week, only to show signs of strength again just above the $1900 level. I do believe that the $1900 level is going to continue to offer a bit of support, but at the end of the day I think you have to be very cautious about getting overly bullish as the US dollar seems to be trying to recover
If we were to break down below the $1900 level. I would recommend buying it $1800 underneath, because it was so structurally important in the past. Beyond that, I think that the market will do everything it can to find buyers, but if we were to break down below the $1800 level then I think we have to kind of rethink the entire situation. Longer-term, I believe that gold goes the 2500 based upon a whole slew of things including the Federal Reserve, global growth stopping, and of course geopolitical issues such as traits bounce between the United States and China. I have no scenario in which I am selling currently.
In short for myself i will short 1937 when market opens to 1917-1920 and then buy at that point and stop loss at 1900-1907.
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