#XAUUSD: Long then flip short in 6 weeks...
I think this is what's going on in gold , a massive blow off top is cooking. I am long via gold mining shares right now, looking to ride the rest of the upswing until we hit the top in about 6 weeks from now, then will likely flip short once buyers run out of money to throw at the yellow metal. Looks like some flows out of equities are heading into gold right now, judging by the price action. Once these buyers run out of ammo it will tank hard, that's my guess here.
Yellow box is the target, perhaps a bit higher than 2011 highs.
Good luck,
Ivan Labrie.
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