Bearish XAUUSD - Aren't you tired of all the excuses for gold?
MACD bearish.
Same horizontal channel we have been in for over 2 years.
Peak inflation fear is over. Now, what's the argument to hold gold? This was supposed to be gold's shining moment. Everything gold bugs said was supposed to happen did, except for gold breaking out.
It's only a matter of time before sentiment gets even more bearish and people start throwing in the towel on gold for good. Back to $1100-1200 over the long term would not shock me. But I think it's only a matter of time before we break and stay below $1700.
Same horizontal channel we have been in for over 2 years.
Peak inflation fear is over. Now, what's the argument to hold gold? This was supposed to be gold's shining moment. Everything gold bugs said was supposed to happen did, except for gold breaking out.
It's only a matter of time before sentiment gets even more bearish and people start throwing in the towel on gold for good. Back to $1100-1200 over the long term would not shock me. But I think it's only a matter of time before we break and stay below $1700.