Our GOLD BEAR FLAG literally could not have played out any better. USD strength is being bolstered by multiple good data releases but that final rate hike and impending recession is on the horizon, gold eventually will be the best buy BUT Anyone who was not expecting this drop is realistically suffering from "Over-Analysis" as this example of a BEAR FLAG is so TEXTBOOK that it could be used as a "Forex Tutorial" on what a proper bear flag should look like. From here on out GOLD is essentially in a FREE FALL. Any buyers are going to be completely and utterly demolished, until a BOTTOM is found and this bottom isnt going to come EASILY.
FIB extension tells the clear story, gold has a LONG WAY TO GO FROM HERE
Do not get caught on the wrong side of this falling knife. Looking to enter long term buy swings at key fib levels: 1780, 1730
FIB extension tells the clear story, gold has a LONG WAY TO GO FROM HERE
Do not get caught on the wrong side of this falling knife. Looking to enter long term buy swings at key fib levels: 1780, 1730