Gold chart, re-visited. Its a super long consolidation. Good thing is, it will move explosively either direction. I'm confident either 1350+ or lower 12xx area once it break the range. Bad thing is, we dunno when it will happen. I am as fustrated as you. But we have to wait.
The red scenario will distrupt the entire bull long term picture. It will be a big H&S and a 900 target. Gold relative to dollar is very strong right now and i think that its resilient performance is predicting a serious movement in the years head. We have Usd/jpy at 115, gold should be at least under 1240. You need to watch also the correlations with Aud/usd to understand better the commodity bull market in front of us. Thanks man.
faronf
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@giuseppe.grande, Definitely holding strength...many countries stock piling (Turkey, Russia, China) so demand is there. With yield curve looking like it's moving toward inversion, I have shifted my views to Bullish from here.