It seems an appropriate choice of the moment to advance the discussion on Gold. As in the previous swings, seems to me more in accordance with the needs of protection from governments than anything else:
Once we cleared the initial swing, the attempt to mount another attack at all time highs has been challenging. The profit taking from buyers who look to cover losses via liquidations in equities and CB printers on full blast has denied the penetration of $1,800.
The opportunity for another round of buying is here, risk is threatening on all fronts. My impression is as follows..given the latest escalations from China and HK and with US Equities S&P taking 3,000 back it is an important ☑️ for the headlines ... means time to start paying attention. Unemployment soaring while equities rally...This leg higher should help us recognise the relationship between Gold and risk.
For the technical side, here tracking for the ending of wave (v) and a beginning of another 5 wave sequence to the topside towards an initial $1758 flow target. To the downside, $1712 support will keep moves lower limited.
Once we cleared the initial swing, the attempt to mount another attack at all time highs has been challenging. The profit taking from buyers who look to cover losses via liquidations in equities and CB printers on full blast has denied the penetration of $1,800.
The opportunity for another round of buying is here, risk is threatening on all fronts. My impression is as follows..given the latest escalations from China and HK and with US Equities S&P taking 3,000 back it is an important ☑️ for the headlines ... means time to start paying attention. Unemployment soaring while equities rally...This leg higher should help us recognise the relationship between Gold and risk.
For the technical side, here tracking for the ending of wave (v) and a beginning of another 5 wave sequence to the topside towards an initial $1758 flow target. To the downside, $1712 support will keep moves lower limited.