ridethepig | Gold Finding a Bottom
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📍 The nucleus of the retrace is in the open with a possibility of finding a floor.
The central majority were clearly long into the elections and price got too far forward, or in other words this was a healthy correction which we saw coming miles in advance.
All things being equal we should find quite a strong bid here as sellers unwind their shorts and buyers step back into the market fixing us back towards structural support. Therefore we can see the lows as a necessity to add into 2021 and with risk restraining equities it's time to start looking at commodities in special variations.
Here we also have opportunities in the links to the chain, mining companies. Because why should an idea of commodity shortages not take on the role in equities too from time to time?! For those that remember the Santa rally last year...
Thanks as usual for keeping the feedback coming 👍 or 👎
The central majority were clearly long into the elections and price got too far forward, or in other words this was a healthy correction which we saw coming miles in advance.
All things being equal we should find quite a strong bid here as sellers unwind their shorts and buyers step back into the market fixing us back towards structural support. Therefore we can see the lows as a necessity to add into 2021 and with risk restraining equities it's time to start looking at commodities in special variations.
Here we also have opportunities in the links to the chain, mining companies. Because why should an idea of commodity shortages not take on the role in equities too from time to time?! For those that remember the Santa rally last year...
Thanks as usual for keeping the feedback coming 👍 or 👎
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A quick update here...
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