The next leg up in gold
Updated
This is the year we see a strong break through that resistance level established in 2011.
RSI trending up with bull divergence since 2013. I see a 2016 clone-type move for 2017.
Will we pause/drop $20 every $80 gain? Yes. But do not confuse consolidation with a bear. The bear market ended in January of 2016.
This is a long-term trade.
RSI trending up with bull divergence since 2013. I see a 2016 clone-type move for 2017.
Will we pause/drop $20 every $80 gain? Yes. But do not confuse consolidation with a bear. The bear market ended in January of 2016.
This is a long-term trade.
Note
Having a day job has making posting here everyday a challenge.But this is a perfect example of not panicking and selling to early (this excludes scalpers who are looking to swing trade).
Hypothetical situation:
$1129-1220
$1220-1180
$1180-1250
$1250-1220
$1220-1300 etc.
If you're accumulating long positions like me, you have to understand healthy pullbacks are part of a bull movement. You'll always have small sell offs, which always overshoot because retailers get nervous that this is the top, then they sell as well.
Miners have held gains (both silver and gold), and the DXY is held lower.
I suggest buying miners that have low variable costs such as BTO, ABX, SSO.
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.