Gold: buy the overshot pullback
Technicals
Gold broke strongly through the resistance level drawn, before closing slightly above it and then pulling back below it.
I have been long gold for a while and this 'overshot' pullback provides further buying opportunities.
Fundamentals
Following Brexit, we are likely to see UK, European and US stocks take further hits; further warnings from many UK companies; further warnings from the UK government. All these will likely drive gold higher.
Gold broke strongly through the resistance level drawn, before closing slightly above it and then pulling back below it.
I have been long gold for a while and this 'overshot' pullback provides further buying opportunities.
Fundamentals
Following Brexit, we are likely to see UK, European and US stocks take further hits; further warnings from many UK companies; further warnings from the UK government. All these will likely drive gold higher.
Trade active
Long
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.
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.