Bearish on gold
The horizontal trendline is very strong. I don't expect the Gold price to break above this trendline. Additionally is the price forming lower highs and lower lows.
Considering the bullish run in ecconomy also in forseeable future. I believe gold is not the most attractive investment on that price level. I see investors choosing different assets.
Gold also had an massive price run from 2018 till july 2020 which i think, still needs to retrace for a great amount more, expectatly at the $1500 or even $1300 range.
I would go short for the long run till the bull run in ecconomy is slowing down.
Considering the bullish run in ecconomy also in forseeable future. I believe gold is not the most attractive investment on that price level. I see investors choosing different assets.
Gold also had an massive price run from 2018 till july 2020 which i think, still needs to retrace for a great amount more, expectatly at the $1500 or even $1300 range.
I would go short for the long run till the bull run in ecconomy is slowing down.
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