This monthly chart shows that Gold is breaking every potential support since it started the decline from Mar. 2022. Let's see where next support/target could be:
1. a close above the orange Centerline is an indication for long
2. a close below the orange Centerline is bearish. Next support would be at the yellow dashed Warning-Line.
3. If 2. fails, the most potential lowest point would be the red Centerline and/or even the Orange L-MLH.
So there we have it.
Short plays? Why not, on daily pullbacks? Selling Call Spreads with decent Risk management could play out pretty good the next months.
Let's see and observe.
1. a close above the orange Centerline is an indication for long
2. a close below the orange Centerline is bearish. Next support would be at the yellow dashed Warning-Line.
3. If 2. fails, the most potential lowest point would be the red Centerline and/or even the Orange L-MLH.
So there we have it.
Short plays? Why not, on daily pullbacks? Selling Call Spreads with decent Risk management could play out pretty good the next months.
Let's see and observe.