Gold is in a bubble

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Gold appears to be running straight up to resistance without ever forming support around $2486. This is not a good sign for gold buyers. I'm highly speculating gold will fall back to $2486. This move is similar to 1979. As in 1979 it went significantly higher than resistance before falling all the way back down to support. So be cautious, this could go much higher than $4220 before coming back to reality.

Good luck!

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ملاحظة

It's currently testing 4226 support. I would expect it to put up a bit of a fight. But ultimately it should remain resistance.