The old adage still applies. Just remember it's common sense that risk is extremely high if you are betting against the current trend.
Gold is setting up for a low-risk entry point that should allow for profit from lower prices.
The key is buying during broad market corrections once sentiment, cycles and momentum start flashing extreme oversold conditions.
If gold breaks down below key support as posted on the weekly chart then the uptrend may be over.
I will remain bullish on stocks and commodity-related stocks until I see a trend change in the S&P 500.
Keep your eye on the POMO's injection schedule each month for days to focus on long daytrades or entry points for swing trades.
The simple truth is no one knows for sure if prices will continue and make new highs.
The precious metal sector remains in a cyclical bull market.
Knowing the big picture trends and patterns at play is crucial for success and piece of mind.
Analyzing these charts will help forecast price action in uts and energy stocks.