Gold needed to cross below daily 50ma in order to go higher. Also, this appears to be the beginning of the breakout from the wedge. It looks like a whipsaw. I expect gold has a short term bottom here and will be up over the next 5 days. I don't think we are starting the next leg up over 2K. We need to wait about 4 weeks for that. I don't know how bullish of a breakout this will be. I've put 3 possible price targets...
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Well, I couldn't be more wrong on that one.
It does look like we may be bouncing off the (D) MA100 (for silver also)
It does look like we may be bouncing off the (D) MA100 (for silver also)