Gold Market Wire
News, analysis and commentary for gold traders and investors
Gold Market Update
Gold Retraces...Challenging the Weak Length
January 7, 2020 - (Gold Market Wire) - Retracements after serious advances, like the one we just had, are not uncommon events. Actually, they are the norm. And for now, as long as the trend line, and the (identified) horizontal support we're treating them as such.
In fact, we are viewing the pullback as a place to add more trade-able length. We remain within the channel, and so far, the pullback looks like a normal one.
Right now, Gold has lot going for it. Not the least of these things are the mayhem at the US Capitol building yesterday, which looks like the harbinger of a wider spread of civil unrest that could sweep across the country.