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
- Why Krugman, Roubini, Rogoff And Buffett Hate Gold | ZeroHedge
- Interview with OECD's William White on the Negative Side Effects of Ultra-Easy Money | Financial Sense
- Capping Oil Prices…at Highest Production Levels in History! | Financial Sense
- Is America Still A Serious Nation? | ZeroHedge
- Yellen Says Fed Buying Stocks Is "A Good Thing To Think About" And Could Help In A Downturn | ZeroHedge
- Debate Commission Admits There Was An "Issue" With Trump's Microphone | ZeroHedge
- The Hype Surrounding Hyperloop | Financial Sense
The most relevant financial news and articles from the Internets
- Check out the top-secret secret design studio where Ford created its GT supercar (F) | Business Insider
- Fully understand the Fintech Ecosystem with this report | Business Insider
- Machine learning has boosted Google's... | Business Insider
- iPhone 7 owners on Verizon claim to be suffering from LTE issues | Business Insider
- We've just received another sign China's industrial sector is stabilizing... | Business Insider
- Laptop Computer Reviews - BusinessWeek | BusinessWeek
- THE... | Business Insider