We haven't had a real update from the Fed since December. What resistances come into play for gold on the upside?
ETFs backed by gold saw 144,432 troy ounces of outflows on Wednesday, bringing net sales for 2021 to 4.84 million ounces.
The weekly chart showing Bollinger band support in play, 100 week m.a. near $1,650. Pros will not be shy and shorting on a larger rally to $1800+
Technical stock chart updates including: $IAG $AEM $NUGT $SKE.to $WGO.v
Positions as of Tuesday, March 9, 2021.
Gold has to break $1,739.10 futures price to start and break the downtrend energy.
The bloodbath phase and bottom after day seven. Swing now in the gold market.
Markets were stretched out to the downside on the sell-off. the rebound so far means nothing on the weekly charts.
A push through $1760 is needed to put the gold market back in a solid price-positive posture, and from there a rally to $1820 is likely.
Copper is churning its wheels. Why is the dollar going higher?
