Gold- Correction could be over soon
Yesterday, Gold spiked again above 2k with 2010 high, and after the price dipped again under 2k
Although we could consider a double top on that high, the price remains incredibly bullish and, in my opinion, the drop is just a correction.
In the short term, the drop is clearly corrective in nature and I expect a new leg up after the profit taken from short-term traders is done.
In conclusion, dips under 1980 should be bought with a confirmation for a new leg up on a daily close above 1990.
Although we could consider a double top on that high, the price remains incredibly bullish and, in my opinion, the drop is just a correction.
In the short term, the drop is clearly corrective in nature and I expect a new leg up after the profit taken from short-term traders is done.
In conclusion, dips under 1980 should be bought with a confirmation for a new leg up on a daily close above 1990.
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