GOLD 200DAY / 1,800 RETEST provides a compelling opportunity
One has to imagine that gold will find its way back to its 200 day before marching on higher given the fundamental tailwinds.
If gold trades down to 1800 and we get a nice close above it - I would believe this to be a compelling opportunity to get long or add length if you took a more aggressive entry prior to the breakout.
A change in market sentiment with respect to the USD, or a FED hiking cycle beginning sooner than anticipated (or the anticipation thereof), would act as a circuit breaker to this trade.
PDC
If gold trades down to 1800 and we get a nice close above it - I would believe this to be a compelling opportunity to get long or add length if you took a more aggressive entry prior to the breakout.
A change in market sentiment with respect to the USD, or a FED hiking cycle beginning sooner than anticipated (or the anticipation thereof), would act as a circuit breaker to this trade.
PDC