In a previous life I traded gold both physical and futures. I cashed some of my physical gold on this current down leg at $1900. It became apparent over many years that gold would reliably retrace 50% after a substantial run. For those hanging out for a halt to the current slide note that May 2019 to Aug 2020 it rose cica $800. The current retrace to $1700 (down $400 from its $800 run up) should stabilise here and commence another climb. Those are the characteristics of any historical gold chart and one can check at ***** technical gold charts. The problem is it is not possible to know how long the consolidation before the rise and the length and height of the next rise.
WMX Price at posting:
$1.08 Sentiment: Buy Disclosure: Not Held