smg200682

smg200682

The gold correction is soon over, and we might see another bull run. Given the current fundamental data, there is definitely more to the up-side of gold, the question is when. My assumption is that this is going to be soon, since all major indexes are also due for a correction down soon. Wait for the confirmation before buy. We could still be headed lower with GOLD.

smg200682

There is likely going to be a correction within the next 5 days, the question is where will the market go after that and is the gold going to push for higher highs. My idea is that the correction will cause a bullrun in gold and potentially silver. The Tech companies are likely headed lower during the next two weeks. Gold on the other hand might keep above 1908 USD/OZ.

smg200682

Comments are on chart.

smg200682

NZD has shown good power when looked at over 5 weeks and also 15 weeks. GBP on the other hand has been weak through the last 15 weeks and also the last 5 weeks. I therefore I think it is prime time for a reversal of trend and that the GBP/NZD pair will move to the upside now that we see a buying pressure from the trendline.