Hello Traders.
As we have seen recently gold has shifted bearish. Now we do not know if this will be long-term or short-term.
However, we can see levels of where it will most likely target if it keeps distributing lower.
We can monitor for any signs of commercials stepping back in shifting the market back to bullish.
The DXY(dollar) has shown the inverse as well giving dynamic price action to the upside.
The S&P500 and stocks are showing signs of weakness.
Gold is expensive. If you had to buy gold wouldn't you buy it at cheaper prices? Then sell high?
As we have seen recently gold has shifted bearish. Now we do not know if this will be long-term or short-term.
However, we can see levels of where it will most likely target if it keeps distributing lower.
We can monitor for any signs of commercials stepping back in shifting the market back to bullish.
The DXY(dollar) has shown the inverse as well giving dynamic price action to the upside.
The S&P500 and stocks are showing signs of weakness.
Gold is expensive. If you had to buy gold wouldn't you buy it at cheaper prices? Then sell high?
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.