GOLD TRADE ALERT (8:45 pm EST)
It is looking like a good time to start buying gold. All charts in the precious metals sector (stock indices, ETFs, and the metals themselves) are flashing strong bullish signals. Even if gold corrects down a bit more, it doesn't look like it will get very far before encountering heavy resistance and likely turning back up. A good stop loss point here would be around $1180. There is now strong support at the $1200 level. I am waiting a bit to buy silver as it is more volatile than gold and any stop loss points right now would be too far below the current price. Going long in gold now.
It is looking like a good time to start buying gold. All charts in the precious metals sector (stock indices, ETFs, and the metals themselves) are flashing strong bullish signals. Even if gold corrects down a bit more, it doesn't look like it will get very far before encountering heavy resistance and likely turning back up. A good stop loss point here would be around $1180. There is now strong support at the $1200 level. I am waiting a bit to buy silver as it is more volatile than gold and any stop loss points right now would be too far below the current price. Going long in gold now.
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