Loading ...Is Gold Stalling Out?
It would appear so. I hope Rambus remains bullish because I’m perpetually nervous, and until this chart shows a clear breakout above the Golden Neckline I’ll remain so.
However, these two gentlemen forsaw a stalling out and correction beginning right about here.
“I’m perpetually nervous”…This should calm your nerves…https://www.youtube.com/watch?v=0NCKy_b_TvE&t=612s
This should help more: https://www.youtube.com/watch?time_continue=41&v=92i5m3tV5XY
We hit the ‘turbulence zone’ which I’ve been marking on my charts for some time now. It’s a ‘zone’ rather than a single line, although the $1360-$1370 area has special importance. A consolidation in the closing apex is perfect, but we need to watch those support lines very carefully now. Anyone who entered in the last few weeks as it became clear we were going to see a good rally should set stops and sell if we break below support on a closing basis.
Today’s goal: Positioning for a gap up next week.
Especiallly if gold drops below 1320. Sell into the break ups and buy into the break downs, is good advice to me in a trending market.
That feels right. Alternatively be right and sit tight:-)