Gold did nothing yesterday, but the USD Index shows strength and miners have dropped in price - a sign that much worse is to come.
Gold actually moved 0% yesterday – it closed right where it closed on Tuesday.
Therefore, everything that I wrote about it yesterday, including the parallels with how gold performed in 2012 and 2013, is still up to date:
Having hit an intraday high of and a low in recent days, it has rallied 4.6% and is almost starting to develop a 50% Fibonacci retracement based on this year's drop.
And it might even seem a bit optimistic if it weren't for the analogy with how gold might have preceded one of its biggest slide in five decades.
XAUUSD SELL 1972 - 1975💯💯
✅ TP1: 1965
✅ TP2: 1960
🛑 SL: 1980
Gold actually moved 0% yesterday – it closed right where it closed on Tuesday.
Therefore, everything that I wrote about it yesterday, including the parallels with how gold performed in 2012 and 2013, is still up to date:
Having hit an intraday high of and a low in recent days, it has rallied 4.6% and is almost starting to develop a 50% Fibonacci retracement based on this year's drop.
And it might even seem a bit optimistic if it weren't for the analogy with how gold might have preceded one of its biggest slide in five decades.
XAUUSD SELL 1972 - 1975💯💯
✅ TP1: 1965
✅ TP2: 1960
🛑 SL: 1980
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+110 Pips ✅✅✅
