Gold set to shine again
Gold has found some key support at the R2 pivot level on the weekly chart. Gold buyers have been waiting for a reason to step back in and the ducks are in a row:
- Fundamentally: Low interest rates globally, US now struggling and may see contagion from the weak ISM manufacturing
- Technically: At a key weekly pivot
So, expect stops below $1453 and then profit taking at $1525 and beyond.
