Gold Gold Daily Video, May 17, 2023

[Sive Morten]

Good morning,

Gold, as all other markets, remain under pressure, due accumulation of USD by investors, preparing for possible US default. It means that right now is not good moment for long position by far. Thus we suggest that another downside action to 1970-1975 is still possible here:

 

[tony mau]

Seems like gold is heading for 1949. I believe we could get some reversal and correction from here. I mean it is oversold now