$GOLD $XAU/USD - another request! I’m working off of my iPad tonight, sorry for the writing on the chart. The main takeaway here is that we are currently in a corrective structure and I recommend being patient. I really like the $1510 level for an initial position due to a confluence of factors. The safest way to play this is to simply wait for a solid breakout of the descending trend line. As the year progresses I believe the uncertainty of the Democratic challenger to Trump will be one of several drivers to send the price of gold (as well as other select securities) higher.
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If you found this to be insightful or helpful, please show appreciation by hitting that like button. If you want more ideas I invite you to follow as well! I try to be here for all of my followers with any questions they might have. Feel free to shoot me a DM or comment below to start a conversation!
