The long term trend is definitely bullish, so even if this setup fails, the risk of holding gold long term is very minimum.
The best trade/investment I believe is to buy pull back in the early stage of a long term bull trend.
I am long ABX and GDX.
1. Tomorrow's market reaction to EIA's weekly report will be crucial in gauging market sentiment. With or without inventory build, tomorrow is most likely an up day for oil
2. OPEC understands that without at least some kind of agreement to alleviate the glut, oil is doomed and so is OPEC. So the chance of an ...
I bought some NE and RIG calls today. You may not want to buy but you definitely don't want to sell. Worse thing that could ever happen to longs is to sell at the very bottom.
Today or Monday could be the bottom of NE. Probability? I say 70-80%. Why? Earnings is really bad but selling pressure was not that great ...
The most likely path is to go down to a little bit before a huge rally.
2065 area is the most likely target but it could go down further to 2030.
But I feel 2020 should be very safe. If it ever gets there, it's a strong buy.