GOLD What the hell just happend????

This was a really exiting week for those of us who trade Gold. Gold was coming from a long bearish market but on the 15th of august things took a turn, the possibility of an impeachment looms over the US president and Powell announcing the need for gradual hikes in the interest rates, in my opinion were the main drivers of the change in a bullish USD and thus a bearish Gold. Of course, for someone like me it was impossible to know this until now, but the markets did, and I think they showed some signs during the week. On my part I now think we are in a small bearish market for gold, so I’m only planning on taking long positions along the way.

I see a possible retracement to 1203 – 1200 for me that when I will buy again and I’m going to venture to say that I don’t think it will be trade below 1200, why?? Because of the volume traded through todays breakout this was some big institutional. BUT DON’T QUOT ME ON THAT I COULD BE WRONG

Have a nice weekend all