oops
Short

even GOLD does melt

COMEX:GC1!   Gold Futures
483 5 2
GOLD's melting point is 1064 C ...so is does melt

Yes, GOLD             broke out of a major triangle and put on the glorious shine.

But it certainly feels overheated now with momentum running little out of steam, produced a rising wedge formation
accompanied with a negative divergence.

The trend is up and could make another new high in this move, but this only means the air gets even thinner and the nice rally needs to be corrected...

So, I am short and looking for a retracement to the 1690-1720 range
traded 1698$ today, second and last objective has been reached. Remaining shorts covered.
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Nice trade.
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got hit on my first minimum target.
his is supposed to be a retracement of the 1600$-1800$ rally , despite having a risk-off day globally.
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Agreed.
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Agreed.
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