Gold should pull back here after hitting major resistance at 50% retrace from the all time high.
I'm bullish on gold long term. However, with the current overbought levels (RSI touching 85), its time for a pull back to confirm the highs from last 5 years as strong floor/support for the coming bull market.
(Thanking @markirvest for posting a similar idea with more detailed info)
Entry at 143
Stop Loss: 145
Target1: 136.7
Target2: 132-130
Timeline: 1 month
I'm bullish on gold long term. However, with the current overbought levels (RSI touching 85), its time for a pull back to confirm the highs from last 5 years as strong floor/support for the coming bull market.
(Thanking @markirvest for posting a similar idea with more detailed info)
Entry at 143
Stop Loss: 145
Target1: 136.7
Target2: 132-130
Timeline: 1 month
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