After a long run over the years, Gold climbed up to 3200 USD/oz.
The ETF GLL Ultra Short, which is leveraged by factor 2, seems to reach a bottom.
Reasons for bottom
- traded Volume very high
- excellent Elliott-wave structure in several time periods
Fear factor will be reduced: Toll Bomb will not exploded. Mr. Trump seems to go very elastic in these theme and will give time for negotions.
All in All: Gold very clear for an first correction towards 2800-2900, later on 2500 USD/oZ
The ETF GLL Ultra Short, which is leveraged by factor 2, seems to reach a bottom.
Reasons for bottom
- traded Volume very high
- excellent Elliott-wave structure in several time periods
Fear factor will be reduced: Toll Bomb will not exploded. Mr. Trump seems to go very elastic in these theme and will give time for negotions.
All in All: Gold very clear for an first correction towards 2800-2900, later on 2500 USD/oZ
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