Gold Breaks Through Support As Predicted
Gold breaks through strong support region, pushed down by positive macro news flow as predicted in my previous post. This completes the descending triangle pattern, was a reversal
The support region marked could be changed based on more news flow, will be updated regularly.
1.) More positive earnings surprises will likely follow
2.) Positive trade news is more likely than negative trade news
3.) No Brexit fears currently to support Gold prices
Check out my blog gdxdaily.com to see how I determine my investment thesis!
The support region marked could be changed based on more news flow, will be updated regularly.
1.) More positive earnings surprises will likely follow
2.) Positive trade news is more likely than negative trade news
3.) No Brexit fears currently to support Gold prices
Check out my blog gdxdaily.com to see how I determine my investment thesis!
Trade active:
We might see a retest of the support turned resistance zone that was broken today. If that happens, might be a good opportunity to add to $DUST if you're trading gold miners.
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