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James Stanley, senior strategist at DailyFX, discusses the current dynamics in the gold market. According to Stanley, although gold buyers have not fully established a bullish trend, the sentiment is shifting towards less bearish as the price failed to hold below the 4,000 level last week.
Stanley points to the 4,100 and 4,200 price levels as potential markers for growing optimism among market participants.
Stanley previously highlighted that gold was steady near the 4,000 support, with bulls defending that key level as technical factors weighed on sentiment in an earlier note (link). In a separate analysis, he discussed how market bubbles can last longer than expected, referencing the post-1996 rally in the Nasdaq-100 index (link). These observations frame his latest view on sentiment shifts in gold.