GOLD still remains on upside, and we have clearly seen this. However, I believe we will see a reasonable correction in the near term based on the fact we are way above the channel, and secondly we are heavily overbought for sometime. Yes, I can understand the fear that markets have, but is it this founded at any level is something I wonder. Anyway, it provides an opportunity to add to shorts we have.
Strategy SELL @ $ 3,325-3,365 or ADD (ensure leverage is manageable of course. I maintain for metals always a very low leverage). Profit on the way down @ $ 3,237 and follow by $ 3,178 for now.
Strategy SELL @ $ 3,325-3,365 or ADD (ensure leverage is manageable of course. I maintain for metals always a very low leverage). Profit on the way down @ $ 3,237 and follow by $ 3,178 for now.
Trade active
partially taken out @ $ 3,291. Re-selling @ $ 3,322 (see latest update)
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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.