Hey everyone,
I promised a few of you I’d get this gold summary out and here it is! Let's dive into what's happening with Gold futures (GC) because, despite the current pullback, the picture is still quite bullish.
We had an absolute monster close last week, with price not only gaining the weekly level but also printing a new all-time high. That was a refreshing sight for bulls. The current selling doesn't surprise me at all; after a major run-up to new highs, a pullback is healthy and expected as traders take profits off the table.
The game plan is simple: we respect the underlying bullish structure and look for key support zones to position for a potential new leg higher. I've mapped out the key areas I'm watching.
