@bucalemu, Hi I also cannot believe it's a false break, but the net long position is a little too high and volunrable for further correction, and RSI is about 50 and down from about 80 area, so still cannot say too oversold. do you think better to wait for further consolidation and buy in before FOMC if move to oversold area
@lantao517, it's difficult to get the timing right, but I agree that more consolidation is likely, especially as gold cycles seem to indicate we might have a last leg down in the next few months. For me, geopolitical tensions are running too high to try to get to get the perfect entry.
@bucalemu, Hi, thank you for reply, yes thing is not good for Gold&GDX in short term especially USDJPY is on perfect upward type, and US treasury is also heading higher as a result of better than expected inflation data. that's a so volatile market for Gold this year, actually even after a valid breakout.
Do you still think late August breakout is a valid breakout, are you?