It looks like we have a swing on gold today (higher daily high than yesterday). Is this looking like a bottom in gold to you?
I just tweeted that we may have a final bottom forming today. If so it would come right when everyone least expects it ahead of the employment report.
Interesting. Well, it seems to fit that gold is late in its daily cycle and broke downward from a sideways consolidation - presumably yielding a 'false direction' head fake. I would think the correct direction now would be in the opposite direction - in this case upwards.Do you have any thoughts on what might cause gold to quickly fail (several days from now) and form what will amount to another disappointing daily cycle that takes gold even lower during later June?
Note: Only a member of this blog may post a comment.