#gold #firstmininggold #preciousmetals #bullmarket #correction #capitulation #reversal #shortsqueeze #bottombuilding #FF #FFMG

Our bullish calls on Friday and Tuesday proved correct. Gold has staged a strong bounce following the midterms, directly reaching our target at USD 4,045. 

While further upside toward roughly USD 4,065 remains likely, short-term gains should now be protected as the 4-hour stochastic is becoming overbought.

That said, the expected bottoming process has delivered an important piece of the puzzle: the bulls are still alive, and the battle for USD 4,000 continues. As long as gold remains above USD 3,975, we expect additional upside in the short-term and have the falling 50MA as our next target.

https://floriangrummes.substack.com/p/gold-daily-call-for-november-4th-29c