It's possibly over for a while, for gold, a weekly trend expired last week and it hit a massive resistance and was rejected. If you hold the yellow metal, you are better off selling it for USD here. Doesn't look promising in the slightest, and inflation is highly unlikely to materialize, despite the huge money printing we saw after the Coronavirus induced crash. I think this is it for gold, get out before it's too late.
I would happily buy it after a big enough fall...
Cheers,
Ivan.
I would happily buy it after a big enough fall...
Cheers,
Ivan.
Trade closed manually
I'm on the fence with the action here, looks like it could have been a fake out and that the weekly trend might take longer to end. I'd suggest to reenter longs soon, if you're following this trend. The rally might extend for 8 more weeks maybe.
Note
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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.