Chart - TA, page-53

@Jvdh1570
On the chart below, the blue arrows what I was expecting to eventuate with the gp.
There was always the believe that the price could pull back to the 200dma shown in orange.
Some believed this would act as a magnet and draw the it down to it at $1800 or so.
I must confess, I had my doubts.
Now that the US election has been dealt with and news digested, we are in some uncharted territory.
Only in the sense that there is a surprise that Biden won and where does this take the economy?
The message of bad economic fundamentals has not gone away but what may be in play is that we may see a surging equity market.
This will ignore the importance of the protection that Gold gives temporarily which is safety.
We are close to the $1800 target that has been talked of and now people are becoming a bit more bearish.
Most of the charts I look at have the indicators at the lowest I have seen in a long time.
That tells me that it may turn up quickly but remember this probability and not definitive.
Also there is option expiry taking place on the 23rd and the 24th that could bring some conclusion.
The question that remains is, where will the gp be in a few months?
The answer to the price of deg and many more lies in the same answer as the gp question.
Much higher than now? i think so.
If you can ride this out, now may be excellent buying.
I am not a seller.
Those that are holding, Relax and turn your heads at more important issue in life.
Kind regards, Wack.