Buy Gold at 1643
Use 1633 as a stop loss
Use 1633 as a stop loss
We still consider that Wave C has some downside left before we arrive at a final bottom for this correction, though a rally above 1700 would see us look to open a long position.
The gold markets had a slightly positive week, but gave back quite a bit of the gains in the end. This shooting star that formed for the week suggests that there is still a fair bit of bearishness in the marketplace. However, we see the $1640 level as a massive support level. Because of this, we believe that as we fall, there will be buying opportunities going forward. From a longer-term perspective, we need to overcome the $1700 level in order to really start to pick up traction to the upside.
YOU SHOULD NOT TAKE ANY MATERIAL posted on this BLOG AS RECOMMENDATIONS
TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED.
TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED.
Do your own due diligence.
No one knows tomorrow's price or circumstance.
I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader.
I do not accept responsibility for being incorrect in my speculations on market trend.
I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader.
I do not accept responsibility for being incorrect in my speculations on market trend.
King Regards
