opinion

Gold: A small pull back on the way to $2100?

Kitco Media
By Jonathan Da Silva
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$25 off the recent high maybe the deepest dip bulls get. The below 4 hour gold chart once again illustrates the expected resistance at around $1985.

My expectation is that a quick move to $2010 would proceed bull’s success at cracking $1985 to the upside.

As for Bitcoin (daily chart below); what doesn’t go down must go up?

Although I still think a breach to the downside if the box would lead price to fall back to the uptrend line and 200 day MA, selling momentum seems exhausted and bears are thus far failing to knock it down.

Have a great weekend.

Kitco Media

Jonathan Da Silva

Jonathan Da Silva developed a passion for hard money and economics from a young age having been influenced by family who sought to teach me that "nothing is free", and the importance of intrinsic value early on. My interest in markets grew keener during the great financial crisis of 2008; leaning on family with vast trading experience, I began to self-educate on technical analysis and economics- drawing inspiration from the works of individuals like W.D. Gann and Adam Smith. I have been a proud member of the Kitco team since 2017 and hope that my writing inspires readers to consider an objective view of the metals, and the greater financial markets.

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