XAUUSD: hit the highest weekly low since 2011 and down...

It's possibly over for a while, for gold, a weekly trend expired last week and it hit a massive resistance and was rejected. If you hold the yellow metal, you are better off selling it for USD here. Doesn't look promising in the slightest, and inflation is highly unlikely to materialize, despite the huge money printing we saw after the Coronavirus induced crash. I think this is it for gold, get out before it's too late.
I would happily buy it after a big enough fall...

Cheers,

Ivan.

Trade fermée manuellement:

I'm on the fence with the action here, looks like it could have been a fake out and that the weekly trend might take longer to end.

I'd suggest to reenter longs soon, if you're following this trend. The rally might extend for 8 more weeks maybe.

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