You don't need an actuarial science degree to understand the gold price; it rises in times of general volatility in other markets and flattens out when there's growth in other, faster instruments. The Dow is jumping around all over the place,Treasury yields are busting out, Brexit is screwing up the Pound Sterling, so gold is an attractive safe haven. Short some small positions for intraday profit if you want a fast buck in a standard retracement but technical analysis isn't worth anything against the macro backdrop which is overpowering everything else. If equities continue to leap around then gold could see a dramatic upswing by early April.
The key here is to stop obsessing over the 5-minute charts and zoom out to the 1-day charts; the trends you think exist don't exist at all - they're very short-term repricing moves with little or no long-term import. Gold is rising until the chaos subsides....if it subsides at all.
The key here is to stop obsessing over the 5-minute charts and zoom out to the 1-day charts; the trends you think exist don't exist at all - they're very short-term repricing moves with little or no long-term import. Gold is rising until the chaos subsides....if it subsides at all.