Timonrosso

Gold mixed signals but still showing signs up upside to $2,351

Long
COMEX:GC1!   Gold Futures
Cup and Handle formed on Gold.
We had the price rocket up which sent a number of gold stocks to the stratosphere in a short time.
Now we have had a retracement (as expected), which is where the price will be testing a crucial level of support.
It could even go down further to test the diagonal uptrend before the bounce.
We need to keep an eye out on these levels, as it's crucial times.
in saying that, there are a few mixed signals right now.
21>7 - Bearish
Price>200 - Bullish
RSI<50 - Bearish (Hopefully will make a higher low).
Target $2,351

Will also do an analysis on the DIXIE to see where things stand with the US Dollar. This is a strongly correlated market with gold this year.

✅ Facebook:
www.facebook.com/groups/matitrader

🌐Website:
www.timonandmati.com

💰FREE Discord:
discord.gg/c8f37kyv35

Twitter:
twitter.com/timonr

Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.