Gold's still in that awkward phase where it's trending down and hasn't really confirmed a higher high yet. I'm watching to see if we get a proper higher low forming here.
If we lose the $3,960 support, I think we're headed lower — potentially well under $3,700. And honestly? I wouldn't be shocked if we revisit sub-$3,000 territory.
Here's the thing: I'm bullish on gold as an asset, just not bullish on where the price is right now. The lower it drops, the more interesting it becomes for allocation. Sometimes the best setups come after everyone's already puked out their positions.
Patience pays when you're building a position in something you believe in long-term. Let the price come to you.
If we lose the $3,960 support, I think we're headed lower — potentially well under $3,700. And honestly? I wouldn't be shocked if we revisit sub-$3,000 territory.
Here's the thing: I'm bullish on gold as an asset, just not bullish on where the price is right now. The lower it drops, the more interesting it becomes for allocation. Sometimes the best setups come after everyone's already puked out their positions.
Patience pays when you're building a position in something you believe in long-term. Let the price come to you.