In a strong demand zone if the lows in gold hold, should move up

The sell-off in gold was expected but did not expect 1850 to fail, nor see BTG down to 5.11 intraday the other day, but... we are where we are. BTG has entered into a strong demand zone and should start to move up in anticipation of gold rising into the end of the year. The bulls seem to be struggling here trying to stay above $1800 and a drop below 1795 would invalidate any move up obviously. Let's see if 1805 stands, if it fails it could signal more trouble ahead. I do believe we could see a sharp snapback rally putting BTG back above $6 in a relatively expeditious manner if gold starts moving in our favor back up above 1835. Good luck,

Commentaire:

I would consider a drop in gold below 1780 to be a major change in trend and keeping an SL at4.98 here