Gold to fall for the next 1-2 months

١٨ مايو ٢٠٢٣

1. Bouncing off the top of the LuxAlgo
   
2. Retail is buying for fear of the current economic uncertainty, so it's a good time for whales to squeeze the longs (and create even more uncertainty/FUD, to be exploited later)
   
3. JP Morgan has a huge short position
   
4. Multiple indicators are all pointing to an oscillation reversal (e.g., MACD about to cross down, RSI about to cross down, etc.)
   
5. I don't expect the price to reach too low. Around $34.88 for the IAU ETF.