Gold
XAUUSD
made a blow off top last Friday thanks to the Brexit panic. Now it should retrace/pullback at least 38%-50% of the move since 1st of June from $1,200 to $1,358. Overall Gold is in a new bull-market and in a strong uptrend.
Therefore BUY THE DIPS. The next one should come in between $1,262 and $1,290...
Stop has to be below $1,232 - better below $1,200 if you can give that much room to breath.
Next Profit Target at least $1,375 but Gold will run towards $1,500 in the next couple of months and you might be able to hold this position all the way through if you manage to get a good entry in the coming dip....
XAUUSD
made a blow off top last Friday thanks to the Brexit panic. Now it should retrace/pullback at least 38%-50% of the move since 1st of June from $1,200 to $1,358. Overall Gold is in a new bull-market and in a strong uptrend. Therefore BUY THE DIPS. The next one should come in between $1,262 and $1,290...
Stop has to be below $1,232 - better below $1,200 if you can give that much room to breath.
Next Profit Target at least $1,375 but Gold will run towards $1,500 in the next couple of months and you might be able to hold this position all the way through if you manage to get a good entry in the coming dip....
