Gold could potentially stand in front of a real turning point. For the first time this year I see potential for a bullish trend in gold. The momentum already changed from bearish to slightly bullish. Now I'm looking for an entry after a short retracement at about 1582.3 in long direction.
If we look back in history we also saw gold falling with the overall stock market. But after a period of time gold starts to move in a different direction than the main market, cause if we see the bad news for the economy becomes reality, we will see a lot of investors buying back into safe haven assets, like gold.
At the end never forget: a good risk management is the key to success in trading & investing.
All the best and stay safe !
If we look back in history we also saw gold falling with the overall stock market. But after a period of time gold starts to move in a different direction than the main market, cause if we see the bad news for the economy becomes reality, we will see a lot of investors buying back into safe haven assets, like gold.
At the end never forget: a good risk management is the key to success in trading & investing.
All the best and stay safe !