Gold no longer moves
Updated
Gold did nothing yesterday, but the USD Index shows strength and miners have dropped in price - a sign that much worse is to come.
Gold actually moved 0% yesterday – it closed right where it closed on Tuesday.
Therefore, everything that I wrote about it yesterday, including the parallels with how gold performed in 2012 and 2013, is still up to date:
Having hit an intraday high of [Tuesday] and a low in recent days, it has rallied 4.6% and is almost starting to develop a 50% Fibonacci retracement based on this year's drop.
And it might even seem a bit optimistic if it weren't for the analogy with how gold might have preceded one of its biggest slide in five decades.
XAUUSD SELL 1972 - 1975💯💯
✅ TP1: 1965
✅ TP2: 1960
🛑 SL: 1980
Gold actually moved 0% yesterday – it closed right where it closed on Tuesday.
Therefore, everything that I wrote about it yesterday, including the parallels with how gold performed in 2012 and 2013, is still up to date:
Having hit an intraday high of [Tuesday] and a low in recent days, it has rallied 4.6% and is almost starting to develop a 50% Fibonacci retracement based on this year's drop.
And it might even seem a bit optimistic if it weren't for the analogy with how gold might have preceded one of its biggest slide in five decades.
XAUUSD SELL 1972 - 1975💯💯
✅ TP1: 1965
✅ TP2: 1960
🛑 SL: 1980
Comment
+110 Pips ✅✅✅
Related publications
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.