Is Gold Setting-Up for an Early 2020 Run?
All the factors appear to be brewing in the woods for a potential break-out (the beginning of one back to near 1500 levels) either in the last few days of this year, or moreso, into early 2020.
All the "things" that have happened, such as better economic data, a China trade deal (for what its worth) and rising yields, have failed to push Gold back to the 1400 level that bears have been waiting for. In fact, since these series of 'events', Gold has actually consolidated, stabilized and surprisingly, increased slightly.
With trade details still uncertain, Brexit still uncertain, impeachment uncertain and other key geopolitical issues around the world (politically and socially), Gold is likely consolidating prior to a break-out. Further, it seems equity bulls are coming to the realization that we are in a 'melt-up' and investors are increasing exposure to precious metals.
Again, my focus is NOT on a minute, hour or day level. If you day-trade there will be opportunities to long and short for profit. Please do so at your own risk.
Remember, when everyone is "short" or "long", the market has a great way to do the opposite.
- zSplit
All the "things" that have happened, such as better economic data, a China trade deal (for what its worth) and rising yields, have failed to push Gold back to the 1400 level that bears have been waiting for. In fact, since these series of 'events', Gold has actually consolidated, stabilized and surprisingly, increased slightly.
With trade details still uncertain, Brexit still uncertain, impeachment uncertain and other key geopolitical issues around the world (politically and socially), Gold is likely consolidating prior to a break-out. Further, it seems equity bulls are coming to the realization that we are in a 'melt-up' and investors are increasing exposure to precious metals.
Again, my focus is NOT on a minute, hour or day level. If you day-trade there will be opportunities to long and short for profit. Please do so at your own risk.
Remember, when everyone is "short" or "long", the market has a great way to do the opposite.
- zSplit
