The US Dollar tagged the 62%Fib Retracement today and could be putting in a DCL. If so, then we should expect a bounce up over the next few days and a possible correction in Gold.
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If the Dollar is rolling over, then it could spell trouble for Gold Bears. I recommend caution.
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Just in case you hadn't noticed...
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Richmand808
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I am not surprised to see the USD up on the BREXIT, what is a little surprising is that gold is rising right along with it so far today. Wish now I had held long like you! Once the US markets and USD heat up with flight capital leaving Europe perhaps gold will correct. Perhaps a nice big correction will occur yet tonight. Any thoughts?
Nightstar
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Volatility is abound and anything is possible at this juncture but the one thing I don't want to do is trade on impulse -- that never works out for me. I'd rather let the dust settle first and then decide on the next course of action. If anything, tonight is a great reminder of why Asset Allocation and Portfolio Diversification is so important.
Richmand808
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True that! I felt squeezed into holding sizable DUST overnight hoping for the best. I am still hoping...lol.