Gold Analysis: Straddling the Fence Amid Market Uncertainty

26 Nov

It’s pretty interesting to read comments and trading ideas on forums during these uncertain times. Right now, 9 out of 10 traders are saying to sell or hold short positions if they have them. They’re referencing MACD, EMA, charts, stars, the mood of their pets (just kidding, but hey, it’s a possibility) and other indicators.
I analyze the chart differently, always keeping an eye on my indicators, which I’m sure you’re aware of since I talk about them all the time.

So, looking at the Gold chart right now, the question is: who’s suffering more, the bulls or the bears? Honestly, it’s not clear-cut. If you ignore the chart and just look at the exchange data and positions, it’s pretty much 50/50. But there’s a solid call option for a rise with a strike at $3000 that popped up right after the drop to 2620, which is a positive sign.

Overall, I’m “sitting on the fence,” and I’d recommend you do the same. News is coming soon, and I have a feeling there might be some bloodshed in the market.