In this uncertainty environment gold should move higher.
The question here... is gold already bottomed out?
On the weekly timeframe there is support around 1850.
If the 1850 breaks than the next support can be found around 1760.
The GDX is testing the trendline now. If gold move lower than the next support zone for the GDX is around 29.
These are good buying opportunities as long gold can hold the support zones and goes upwards.
I believe we will see higher prices for gold... but look to the charts to see where gold is going to.
The question here... is gold already bottomed out?
On the weekly timeframe there is support around 1850.
If the 1850 breaks than the next support can be found around 1760.
The GDX is testing the trendline now. If gold move lower than the next support zone for the GDX is around 29.
These are good buying opportunities as long gold can hold the support zones and goes upwards.
I believe we will see higher prices for gold... but look to the charts to see where gold is going to.