The pattern just cracks me up every time I look at it. So sleepy, so content, so cute. I just want to tickle its chinny chin chin.
Today at least, it looks like it was not unwarranted calm, but instead it looks like content, sleepy old gold knew all along that the post-March consolidation was a pleasant, if necessary affair to offload unhealthy patrons who jerked in out of fear in March and April. It’s as if gold felt all along that the negative RSI divergence was a reset and refuel stop.
So if today is real, the 1940 target (next stop) for the gold price would be operational.
Subscribe to NFTRH Premium (monthly at USD $35.00 or a discounted yearly at USD $365.00) for an in-depth weekly market report, interim market updates and NFTRH+ chart and trade setup ideas. You can also keep up to date with actionable public content at NFTRH.com by using the email form on the right sidebar. Follow via Twitter @NFTRHgt.