On the monthly chart, you can see a big bearish divergence (the blue and red arrows).
That could give a good correction till the 200EMA (around 1350-1400)
If we take the measurement from 2008, we had a correction of -33%.
If we do this from the ATH to the 200EMA also we have a -33% (just a thought to keep in mind)
Also there's a trendline.
When and IF we will get there, that will be the push for the next leg up (IMO)
Kind regards
That could give a good correction till the 200EMA (around 1350-1400)
If we take the measurement from 2008, we had a correction of -33%.
If we do this from the ATH to the 200EMA also we have a -33% (just a thought to keep in mind)
Also there's a trendline.
When and IF we will get there, that will be the push for the next leg up (IMO)
Kind regards
Everybody is fully bullish about gold, something to keep in mind.
The way of contrair thinking