Tomorrow’s close is the key. Trend of gold and silver after London AM Fix is the key.
With third quarter earnings now complete for gold producers, a common theme in the results was a discussion on cost inflation. Fuel continues to be the area most cited along with rising pressures on consumables/reagents..
Weekly chart remains bullish, just a correction with major support around $1781/$1792. The weekly Bollinger band providing as a resistance.
Positions as of 16 November, 2021
Gold sideways but remains strong. Slow stochastic above 79, bullish. Pros are buying the pullback and targeting $1,900 area next.
Gold is about to see the 100 day average crossing over the 200 day. Another bullish sign. Upper Bollinger band around $1,894.
Gold has not lost its embedded reading, pros are buying down here.
Crypto enthusiasts would be wise to stop comparing crypto to gold. They should do the right thing… and just buy some gold.
Gold has an embedded reading, very bullish.
Positions as of 9 November, 2021.
