Sive Morten
Special Consultant to the FPA
- Messages
- 18,681
Good morning,
Just external geopolitical pressure has calm a bit - technical factors immediately manifest themselves and gold starts downside reaction due long term overbought condition. Since recent drop was rather fast and we intend to keep an eye on intraday bullish pattern, suggesting that gold could show upside bounce to ~2370$ area before 2nd leg of downside retracement starts:
Just external geopolitical pressure has calm a bit - technical factors immediately manifest themselves and gold starts downside reaction due long term overbought condition. Since recent drop was rather fast and we intend to keep an eye on intraday bullish pattern, suggesting that gold could show upside bounce to ~2370$ area before 2nd leg of downside retracement starts:
