XAU/USD Weekly Forecast, Technical Analysis (Nov 11-15): Gold Plunges but then Stabilizes

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The gold market fell hard this week but has since shown itself to be supported fairly well, as the markets continue to see a lot of reasons to go higher, including the interest rate situation, the central bank purchasing, and the uncertainty.
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[@absolute___zero]

The best song to watch your gold short positions growing is :
_And way down we go_
_Way down we go_
_Say way down we go_
_Way down we go_
Target : 1825 (fasten your seatbelts)

[@dailygene8169]

This is a BIG if but if you anything about the current gold super cycle suffice to say it's too early to short but if it did go down and it won't be now then 2280 is the real support. December and final Q4 is around the corner lol, you'd have to be a nut bag to short gold right now. We're never going to see 2000$ per OZ again. Once we hit 3000 then yes we can short, and prices to pick up gold at stellar prices will come in January and February.

[@absolute___zero]

@@dailygene8169 Can you explain why the "gold supercycle" is rising against the dollar? Since 2008 DXY is up 40% , and gold is up 150% ? While the CRB Index (commodity index) is also down 40% (matches the DXY rise exactly). Gold is a commodity, but somehow it is going against the trend, don't you suspect something is wrong here? I am not going to get into COT report which shows large specs are long gold for 22 years now (nobody is short), discussion will be too long.
Yeah, I am planning to pocket millions on gold collapse, and I think I am going to get it. I also thought it was going to make a top at 3150 but after seeing flat hourly at 2790 and then break below 2750 (pivot) it was clear that top is in. Later the selloff on US Election day (Wednesday) confirmed it to 100%, so I am confident . I think next Friday we will close at 2140 , only 140 bucks above your never-going-to-see level. Remember that gold price is not sustained by physical buying , this is what gold propaganda forums say (which I am subscribed to), they are saying it is all on paper, that's why I think gold collapse will be quick and sharp, on paper trading you don't have to bring your physical to the dealer, just click and be free.