Gold- I'm a concerned bull...

13 окт. 2020 г.

In my recent past analyzes on Gold I said that I'm bullish and I was wondering where would be a good place to buy.
My opinion remains the same for now but as we all know in trading nothing is carved in stone.
When it comes to Gold there are 2 main reasons for concern:
1. The rise from 1850 is not impulsive and more of a corrective pattern
2. The new high at 1933 is in fact a lower high in the bigger picture.

That being said I will still look for opportunities to buy above 1900 zone with a target around 1940. Incapacity of staying above 1900 zone though would put Gold in a bad situation and we can see it drop to 1800 in the medium term