Gold Makes Another Higher Low
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
Gold continues in the consolidation phase and appears to have made another higher low, indicating the bottoms are in and the next big move should be higher. Gold has been consolidating for about three weeks and is now pushing to the top end again.
This phase of the market is the most challenging for traders and investors because of the market indecision and many false starts. The consolidation phase should be the confusion phase because the strong hands keep rotating between buyers and sellers.
Eventually this phase will end, and the markets will break out one way or the other. Indications are the move will be up. The key here is to have the patience to wait until gold breaks out and gives a solid footprint for direction. For now, it’s only confusion.