Loading ...Daily chart has an inverted H&S …a break above $995/1000….targeting $ 1100
Which would break out the Monthly bull pennant..where a move above $ 1030/1040, target $ 1800
Not sure what the smackdown
overnight is about, but it already seems to be subsiding some. Still down $40, but more curious about silver, only down $.15.
I guess it could be some reaction to the India/Pakistan situation, because for the longest time gold has been smacked at the mere mention of war. I don’t know, from what I’ve read, the Indian response was meant to be non-retaliatory. I guess we’ll see if Pakistan views it that way.
I’m wondering if this is the scum taking the opportunity of a little weakness at a less liquid time in the overnight markets, just to let some air out in front of what should be a more dovish stance from the Fed. It wouldn’t surprise me if we make back these losses by the close today. Course, I guess it wouldn’t surprise me if it got worse too. ??
Regardless, despite appearances, we ain’t done just yet IMHO, but might even be starting a quick leg up toward $4K.
