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Gold Market Wire
News, analysis and commentary for gold traders and investors
Gold Market Update
Is Gold Getting Ready for a Washout?
November 19, 2020 - (Gold Market Wire) - The failure of Gold to extend the early week rally is raising concerns that the critical $1850 is about to give way, prompting a significant sell-off. We are on the sidelines fully now, and awaiting the chance to get short. The rally we looked for has failed - completely, and $1850 is about to come under attack, we feel. This is a bearish set-up of some significance. Wild eyed gamblers should stand by and get ready to run short. Regular traders can spec short, and investors should neutralize length and stand aside if they can.
The market is weak - and prone to a sharp move lower. All eyes are on $1850.