$Gold to the Moon - $1400 come end of year

Gold is absolutely in a bull cycle finally. It has consistently been over 1 standard Dev above the SMA since around Dec 1st.

• RSI says overbought - but not very concerning when one sees it's pattern within the Bollinger Bands
  
• Oscillators for the most part look very bullish
  
• MA - obviously bullish
  
• Volume is clearly a bullish story
  
• Global growth concerns will lead to central banks continuing to accumulate
  
• Fed Policy - halting QT with so much QE out there will lead to continue inflationary pressure
  
• I think political forces would want a weak dollar as well to increase our exports
  
• It will be around $1350 when we face major resistance
  
• I have trouble thinking this will drop under $1319 support now
  

A good test for gold will be if we see bad news on gold starting to get out, and gold barreling up anyway. A clear sign we are back in new bull market

Currently have other capital tied up on calls on a 3X short of oil while I'm in a larger long position in oil 3X... as soon as this materializes I will be deploying more resources into gold.

Go team gold!
Happy Trading!

Trade aktif:

Just added to the position.