Last week was great.
Im not so bullish this week I think we will have a move down to at least the 2043 area while gold figures itself out. I think any further move up will be cancelled out by a bearish move by the end of the week. Falling below this area opens the door for the 2025/ 2015-2018 area. Both great areas for a bounce. On the other hand a capitulation of price action at these levels good send us to the 1900's and even the 1840's in time. Make no mistake there is a gap on gold that has to close at some point around 1840 or so it drags everyday it is open. Im actually flat on gold as of the end of last week all targets were met, now it is just about finding new positions. I will most likely look to find a short to open and ride down till i can put it in risk free territory and see if it runs. Otherwise will be buying the dips at anything i deem a signal.
Im not so bullish this week I think we will have a move down to at least the 2043 area while gold figures itself out. I think any further move up will be cancelled out by a bearish move by the end of the week. Falling below this area opens the door for the 2025/ 2015-2018 area. Both great areas for a bounce. On the other hand a capitulation of price action at these levels good send us to the 1900's and even the 1840's in time. Make no mistake there is a gap on gold that has to close at some point around 1840 or so it drags everyday it is open. Im actually flat on gold as of the end of last week all targets were met, now it is just about finding new positions. I will most likely look to find a short to open and ride down till i can put it in risk free territory and see if it runs. Otherwise will be buying the dips at anything i deem a signal.