GOLD – Update

– Whilst I’m not short yet, I definitely wouldn’t be looking to buy (on the daily/weekly timeframe) from the charts below
– I think there’s room for more gains but probably limited
– The recent price advance appears to be weak, so more than likely to be a correction than the start of a new bull run
– 61.8% fibs still allows price to reach around 1700, and price has currently stalled at the 50% level from the 1920 highs
– I’ll be looking for bearish Candle patterns in the coming days
– Earlier posts on Gold can be viewed here

“Trade what you see, not what you think…”

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