StefanBode

Gold - It's to early too ....

FX_IDC:XAUUSD   Gold / US-Dollar
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... declare the bullish Trading plan enabled, as this will only be the case with a monthly close above $ 1,380 / ounce.
The stock market likes to go the way of the biggest pain for the market participants. Therefore, I would not be surprised if the gold price breaks out of the red, slightly falling trend line in the short term, in order to lure as many bulls as possible, so that they can then be scared again.

Do not get me wrong,
I have no doubt that in a few years', gold will once again become one of the best hedging instruments, especially when people's loss of confidence in politics has exceeded the BreakEven point of 50% and the banking crisis in the EU will pick up in 2020/21.

But until that happens, gold needs a monthly close above $ 1,380 as a prerequisite for the start of the precious metals rally.
As long as this is not done, a further sale can rob the last nerve of the remaining bulls. Then the final capitulation / bottom could be reached.
If this sell-off comes, then I will go with the remaining gold producers with positive cash flow, because these are the leverage with rising gold prices.

Therefore, you see in Chart 2 trading plans and assume that you could assign them with the explanation accordingly ;-)

Investment greetings from Hanover, Lower Saxony

Stefan Bode

P.S.
Thumbs up (even with older analyzes) and follow me :-)
Kommentar: For longterm entry, we need monthly Close above $1.380!
https://t.me/stefan_bode_analysen
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