Gold bear watch
Gold has broken down from a clear descending triangle formation and just made a bearish retest.
Fundamentals are strong going forward but can't ignore the worrisome technical picture here.
I Hedged my miners portfolio with DUST. Miners could have a violent break down as they have been lagging gold.
I do not think we will reach the more bearish targets, but I am thinking we have a higher than 50% chance of going sub-1400.
Fundamentals are strong going forward but can't ignore the worrisome technical picture here.
I Hedged my miners portfolio with DUST. Miners could have a violent break down as they have been lagging gold.
I do not think we will reach the more bearish targets, but I am thinking we have a higher than 50% chance of going sub-1400.
Komentarz:
I'm thinking 1360 or 1385 as THE DIP opportunity on gold
Komentarz:
this idea has confluence with a retest of daily 200 MA
Komentarz:
over the last week, I scaled into a large DUST position to hedge my entire portfolio and am now net short.
Komentarz:
gold appears to ave a perfect bearish retest