Gold Price To Churn Sideways For A While?

In my last analysis I noted that gold and the metals sector in general were too stretched above the 200-dma - and would likely have to churn for a while before the next leg up could begin. After seeing the sell-off following Friday’s employment number, I think I probably called that one correctly. The metals may have to churn sideways for most of August before the next rally begins.

I’m going to go over in detail this weekend, what I think the sell-off on Friday in the metals means for the sector. Hint: It’s not that bearish.

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