I believe we may be on the verge of another upward wave in gold.
Commodity cycles tend to be very long due to the unique characteristics of the market — such as slow changes in supply and demand, capital-intensive production, and long investment horizons.
The daily chart shows strength, with the overall trend remaining bullish. There’s no clear reason to panic or sell at this stage. After reaching 3400, gold has seen a healthy correction. I don’t expect a move significantly lower from here.
I’m in a long position and placing a stop-loss at today’s low, with a target above 3500.
Commodity cycles tend to be very long due to the unique characteristics of the market — such as slow changes in supply and demand, capital-intensive production, and long investment horizons.
The daily chart shows strength, with the overall trend remaining bullish. There’s no clear reason to panic or sell at this stage. After reaching 3400, gold has seen a healthy correction. I don’t expect a move significantly lower from here.
I’m in a long position and placing a stop-loss at today’s low, with a target above 3500.
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