Gold presents a few Confluences for long positions upon retesting the decline trend line. My expectation is that gold will touch 2003.99 twice, which is where I plan to add another position.
Regarding GDX "Gold miners," the fact that it only closed down -0.81% while gold closed -1.66% suggests that gold's sell-off will likely be brief, and the market should begin to turn bullish.
Silver is currently reacting and retesting the upper band of the pattern, and I anticipate a bullish swing in the near future.
I believe that once the Dow Jones breaks 12750 and an incline trend line from October 2021, gold will move into a bullish phase.
Regarding GDX "Gold miners," the fact that it only closed down -0.81% while gold closed -1.66% suggests that gold's sell-off will likely be brief, and the market should begin to turn bullish.
Silver is currently reacting and retesting the upper band of the pattern, and I anticipate a bullish swing in the near future.
I believe that once the Dow Jones breaks 12750 and an incline trend line from October 2021, gold will move into a bullish phase.
Trade closed: target reached