Gold have been swinging lower for quite some time, but have so far failed to take out the 1200 area.
There are lots of stop orders below 1200, so a real break below should trigger a larger move to the
down side.
If it takes out 1280 to the upside, I will look for a pullback and a final target on 1560. stop is placed under nearest structure
Markets alternate between low volatility and high volatility. Low volatility is followed by high volatility. We are now in a low volatility environment. guess what comes next.
Final note:
If the pullback in stocks speeds up, gold should move to the upside!
There are lots of stop orders below 1200, so a real break below should trigger a larger move to the
down side.
If it takes out 1280 to the upside, I will look for a pullback and a final target on 1560. stop is placed under nearest structure
Markets alternate between low volatility and high volatility. Low volatility is followed by high volatility. We are now in a low volatility environment. guess what comes next.
Final note:
If the pullback in stocks speeds up, gold should move to the upside!