A good time for a chart update in Gold ... we are flirting in overbought extreme territories and here starting to unwind positions as we approach the next main targets in the swing at 1422.x
Dovish Fed via inflation is causing the break as markets are already starting to price a 50bps cut in July. The USD ship is turning ... if you are not holding some Gold from below now is not the time to start loading.
For valuation driven pullbacks we can comfortably add positions at 1360 and 1300 ... otherwise there are only very risky entries left on this train which has been moving at full speed. Smart money saw what was coming miles in advance.
All the best
Trade fechado: objetivo atingido
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Well done those that caught the break ... first targets at 1422 cleared!