For the past few weeks, EU and GU bulls kept the higher range, but it looks like their time might be over for now. Long term, looking at the monthly chart, they can still climb 1000 pips or more…but short to medium term, a correction is more than overdue. I am not expecting much from EU or GU bears in the coming weeks, even though they might surprise me, but there should be money to be made there. 200-300 pips down are surely doable, maybe more, before bulls take over again. And Gold bulls look to be done now, too…most attempts to stay above 2000 have failed…and what doesn’t go up, should go down.
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