Technically Speaking
Gold is testing a support level going back to April. It is also the 50% retracement of the 2016 rally.
The question I wonder is this a retracement in a bull market or will we see sub 100 again?
What to do?
Unless you are short, the R/R favors the long side, IMO. I am looking to buy b/w here and 112, stopping out under 110. I will update this post if and when I buy.
Durable good orders and UE claims are on Wednesday, otherwise I expect a quite Thanksgiving week.
Gold is testing a support level going back to April. It is also the 50% retracement of the 2016 rally.
The question I wonder is this a retracement in a bull market or will we see sub 100 again?
What to do?
Unless you are short, the R/R favors the long side, IMO. I am looking to buy b/w here and 112, stopping out under 110. I will update this post if and when I buy.
Durable good orders and UE claims are on Wednesday, otherwise I expect a quite Thanksgiving week.