I can't believe people are talking about the end of the gold bull AGAIN......
Fundamentals preclude it.
Technicals make it seriously unlikely.
This is probably just a reaction from a new high which almost always happens in order to strand the breakout traders. Gold technicals were overbought on everything up to 240min charts and on some Daily indicators. With the approach of opex a bit of "window dressing" is to be expected.
I use forks to add at support and to lighten at resistance. Here's a different 240min GC chart going back to January. Hopefully this will give some much needed perspective....
beeb
Fundamentals preclude it.
Technicals make it seriously unlikely.
This is probably just a reaction from a new high which almost always happens in order to strand the breakout traders. Gold technicals were overbought on everything up to 240min charts and on some Daily indicators. With the approach of opex a bit of "window dressing" is to be expected.
I use forks to add at support and to lighten at resistance. Here's a different 240min GC chart going back to January. Hopefully this will give some much needed perspective....
beeb