I think 1660 can't hold like 30.50 can't hold. Because daily stochastics still not oversold for gold and weekly stochastics very long way to go to oversold area. I'll surprised if 1630 holds. Also weekly MACD just pointing down. I can't tell exact bottom area. Only thing we can do is wait for weekly indicators get in oversold area. Then it will stay there for few days. Finally it will point up. That's the BUY area.
Good call. How fast do you thing prices might recover?
ReplyDeleteWhen bulls walking upstairs bears jumping out of window. After such slam it's really difficult recover. Lots of discouraged bulls. But since EE controls the market movement one day they can close all short positions and take a long side. But bull run is never as quick as bear jump.
ReplyDelete