Gold Sudden Drop Provides Opportunity
Gold dropped hard today, and the metal is starting to look attractive again with supports just below. Last month we talked up gold in Gold Breakout of Bullish Wedge.
Gold is hitting resistance that is likely to cool off this advance soon. While some limited gains in Gold are possible in coming days, it may be a good spot to sit back, enjoy the recent profits, and wait for a better entry.
Gold hit resistance levels and today declined in a dramatic fashion. Gold will likely rebound somewhat first, but could settle moderately lower in coming days and test near the support levels as shown. Notice that the up trend for Gold remains intact.
Gold is becoming attractive again, and the next major move could take it up to $2,050.
Best of the Blogs
Scanning and identifying the best blog entries every hour
- A Real Estate Mania Redux | Financial Sense
- After "Pause That Refreshes" 'Investors' Panic-Buy Stocks Back To Record Highs | ZeroHedge
- Stoeferle: Helicopter Money Coming and It Will Boost Gold Market to New Highs | Financial Sense
- Tapping the Brakes on Automated Vehicles | Financial Sense
- Erdogan Formally Requests Gulen Extradition From US, As Power At Incirlik Airbase Restored | ZeroHedge
- Europe’s Impossible Refugee Math: Brexit Was Mathematical Certainty Eventually | Financial Sense
- Amazon To Issue Student Loans To New "Prime" Shoppers | ZeroHedge
The most relevant financial news and articles from the Internets
- DJI drones will receive real-time wildfire alerts | Business Insider
- The brilliant management strategy Google's new CEO used to become one... | Business Insider
- 10 million self-driving cars will be on the road by... | Business Insider
- IAN BREMMER: The level of interest in third... | Business Insider
- These are the most feared hacker groups in the world | Business Insider
- Book Review: <em>Thinking, Fast and Slow</em> by Daniel Kahneman | BusinessWeek
- This new iOS 10 feature helps protect your iPhone from water... | Business Insider