Gold had probably finished it’s active phase of accumulation and has a chance of locking in a consolidation, here’s why:
Volatility (ATR) on the daily chart had reached the long-term peak: usually it points to a market ending the active phase of the rally.
The net position of commercial traders from the COT report has been reaching new peaks on a week-to-week basis. Usually, that is associated with the declining price: the continuation of a price trend is unlikely in such circumstances, at least immediately.
From 25-year seasonal studies, Gold has completed the seasonal window of growth, and has a chance of being locked in a consolidation.
Don't forget - this is just the idea, always do your own research and never forget to manage your risk!
Volatility (ATR) on the daily chart had reached the long-term peak: usually it points to a market ending the active phase of the rally.
The net position of commercial traders from the COT report has been reaching new peaks on a week-to-week basis. Usually, that is associated with the declining price: the continuation of a price trend is unlikely in such circumstances, at least immediately.
From 25-year seasonal studies, Gold has completed the seasonal window of growth, and has a chance of being locked in a consolidation.
Don't forget - this is just the idea, always do your own research and never forget to manage your risk!
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