I really don't know where this will end up, but at the minute it doesn't look great.
I sold down today with a reasonable expectation I will be able to buy back at a cheaper price (at some point in time).
All you can do is look at how price and volume reacts at certain levels, and if price doesn't hold, then look for the next lower previous support levels, and see how the market responds when price gets there.
At some point there will be a strong effort to support the market, no doubt, I just don't know where that is - I don't think the market professionals even know where that support level is yet.
Looks like Gold is falling off a cliff right now, which either means the US market will actually find support tonight,
or that even Golds 'safe haven' status will also fail (I noted it looked vulnerable in the weekly charts).
I also note that price often (not 'always', but often) responds in an 'equal and opposite' manner, so the positive response when it (finally) comes could be quite strong - to somewhat balance the very sharp push lower.
Just watch the charts, and try to understand what "the price and volume is saying about itself", that is usually the key.
cheers
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