...Moody's credit downgrade was the turning point for Gold, and now coupled with a falling dollar, momentum is building again for Gold. The Chinese retailers who speculated sold into the decline, now could be looking to re-position to buy early next week while US closes for Memorial Day.
...If there is follow through buying on Monday, it won't be a fake breakout, though I don't totally rule it out just yet.
#Gold breaks its downward channel from recent highs. In bull markets, this basic yet powerful signal often precedes new highs. I'll be looking for new all-time highs in gold by July above $3,500. https://x.com/iGlobalGold/status/1925994731735027870
