FibLines

Gold Getting Overbought

COMEX:GC1!   Gold Futures
Re: moves in #gold & #silver. Faded both & closed my futures positions overnight. Prices need to cool off. Gold way overbought (good LT , not ST ) & daily candle forming shooting star . RR here not good. Looking for a reentry ~50% retracement from breakout @ ~1530. $GLD $SLV $GDX
Founder, Fibonacci.com

Comments

No way. With Federal Reserve's Quantitative Easing, rate cuts, geopolitical problems, corona virus... You'll see gold continue upward. Russia, and most of European countries are in a gold buying spree. This manipulated price of $1500 won't hold whatsoever.
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