Though I placed my target price for gold @1763, I think a short term pullback is about to happen. So basically when analyzing gold from the 4 hours perspective, we can see how last time(left of the chart circled with brush)there was a 3% pullback before a further climb for gold. I am not concluding that history keep repeats itself, but from the technical indicators perspective, I don't see gold as an attractive asset to purchase at this moment(Crazy overbought MACD,EWO, and RSI.)It either consolidates at this level, or it's about to fall before another rally. My suggestion, for you dear investors, is to stay on the sidelines now, keep an eye on the moves, and see how is gold going to move. It would probably fell(around 2% last time , but definitely not that much this time due to the current corona fear), and you should look for an entry point once the selloff finishes. Overall, still extremely bullish on gold, good luck!
Thank you
Thank you