Gold has been coiling nicely for more than a couple months now. The Inside Month we're currently forming, along with an Expanding Weekly Structure, suggest Gold has a "large" move incoming.
Question is, will it be back to a 2k handle....Or down to 1.6xx....?
I think this largely depends on how much uncertainty and Global Liquidity Tightening continues to occur.
If we see sentiment rise, and risk on behavior begin to rise.....Gold will likely take that lower path. If we see sentiment continue to remain low, and a risk off posture in markets, I believe we see Gold > 2k.
Watch for the Shakeouts at either end of our $1800-1880 Range. If it can't hold above for at least a couple days, or doesn't break with really large volume/conviction, I'd be careful.
Global Macro Environment rules ALL. Rules equities, Rules gold, Rules Bonds...... Watch credit spreads, Watch the 10yr yield....Cracks show there early on..
As always, good luck, have fun, and practice solid Risk Management!!
Question is, will it be back to a 2k handle....Or down to 1.6xx....?
I think this largely depends on how much uncertainty and Global Liquidity Tightening continues to occur.
If we see sentiment rise, and risk on behavior begin to rise.....Gold will likely take that lower path. If we see sentiment continue to remain low, and a risk off posture in markets, I believe we see Gold > 2k.
Watch for the Shakeouts at either end of our $1800-1880 Range. If it can't hold above for at least a couple days, or doesn't break with really large volume/conviction, I'd be careful.
Global Macro Environment rules ALL. Rules equities, Rules gold, Rules Bonds...... Watch credit spreads, Watch the 10yr yield....Cracks show there early on..
As always, good luck, have fun, and practice solid Risk Management!!