Gold's weekly chart shows the 18 week moving average as resistance with no trend. The weekly chart shows us nothing, waving back and forth without momentum.
This is the main reason I strongly advise against shorting during a 3rd wave in a bull market. They are often strongly trending structures, and that is what we have seen ..
A dip to $1750 would be disappointing, but it would only add to the already very-positive look of this chart.
I urge all gold market investors to begin their day by drawing an “arrow of disappointment” on the gold chart.
