Gold Futures Price Chart
Gold hit our MFU-3 upside price target of 1672, an area to exit long trading positions.
The quick surge / spike offered a great opportunity to lighten up, even for active investors that remain bullish.
That said, one needs to be nimble and have a plan to buy back in again (if bullish).
Though we exited longs, we are looking for a long setup to develop in the coming days.
That would come in the form of a price reversal near support. Stay tuned.
The author may hold positions in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.