The Day Ahead: PM Edition 2020-02-02
Nice move down in gold today but couldn’t hold under 1841.80 as of yet. The danger for bears is that wave ii is not yet set...
As I mentioned in the morning, bonds have dropped enough to negate the bullish pattern but think it late in the development of the ending diagonal (C) of [B]. Technically there should be a retest or minor new low under that of the January 12th low but I think it wise to allow for a possible truncation. I certainly think it a bad idea to be short if 168^…
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