GOLD: what you should do with it right now

GOLD: what you should do with it right now

2020-10-12 • Updated

Gold finally moved above $1 900 – again. How established is that high now? A brief look suggests that the mid-term trend is bullish so $1 960 may be reached thin a week or two. However, in the short-term, it is possible that a downward bounce will take place from $1 930 to $1 900. Very possibly, the price will drift slightly below the 50-MA just like it did on October 6, and then will get back up to break $1 930. That’s why the key, for now, is to verify the downward reversal from $1 930: the 50-MA is waiting!

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