Hey guys, in regards to gold, before any long-term rally we usually dip to new lows in the consolidation pattern. It wouldn't make sense for us to correct to the low 900's and then rally through old highs from there. I thought we had done this already but it is starting to look like we will go back to the mid 800's and then blast off in August.
What are your thoughts on this beat down? Do you agree we go much lower?
3 comments:
Hey guys, in regards to gold, before any long-term rally we usually dip to new lows in the consolidation pattern. It wouldn't make sense for us to correct to the low 900's and then rally through old highs from there. I thought we had done this already but it is starting to look like we will go back to the mid 800's and then blast off in August.
What are your thoughts on this beat down? Do you agree we go much lower?
I don't wanna agree with that Peter, but if we don't get back over $950 quickly then we're in trouble
Yeah. 945/950 is a pretty important line in the sand IMO.
We don't stay above that for long and it's going to take awhile to get another run going.
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