Technical Analysis and Outlook
With Gold completing Gold Rally $1245, the metal is nose diving with phase 1,2 completed, and phase 3 in progress. When we will see a rise and why? We can only speculate. Probability wise the rally will catch once everyone will be calling the Gold market overbought and finished, or when stabilization near downside support such as Key Sup $1280 and/or Key Sup $1238 will occur. (For the latest market talk, please see the site 'Market Commentary' tab - TradingSig_dot_com).
With Gold completing Gold Rally $1245, the metal is nose diving with phase 1,2 completed, and phase 3 in progress. When we will see a rise and why? We can only speculate. Probability wise the rally will catch once everyone will be calling the Gold market overbought and finished, or when stabilization near downside support such as Key Sup $1280 and/or Key Sup $1238 will occur. (For the latest market talk, please see the site 'Market Commentary' tab - TradingSig_dot_com).