GOLD needs a rest
I referred to GOLD in last weeks webinar and mentioned that we are likely to see a pullback at some point.
Gold has decided that the time is now and is forming a BuF but this could also turn into a mini consolidation.
Long term this is still bullish as long as support levels hold.
Unfortunately, due to the huge move up, CATs are way down below so are pretty worthless for current position management so watch for near term pivots that might form if price moves into a mini consolidation. If price only forms a small and neat BuF, then the pit stop was a quick one.
Let’s go trade!