Gold mixed signals but still showing signs up upside to $2,351Cup and Handle formed on Gold.
We had the price rocket up which sent a number of gold stocks to the stratosphere in a short time.
Now we have had a retracement (as expected), which is where the price will be testing a crucial level of support.
It could even go down further to test the diagonal uptrend before the bounce.
We need to keep an eye out on these levels, as it's crucial times.
in saying that, there are a few mixed signals right now.
21>7 - Bearish
Price>200 - Bullish
RSI<50 - Bearish (Hopefully will make a higher low).
Target $2,351
Will also do an analysis on the DIXIE to see where things stand with the US Dollar. This is a strongly correlated market with gold this year.