We still consider gold to be in bearish territory below 1525 with further declines likely, though we must admit to being surprised by the price rebounding as far as it has after the calamitous falls to 1322. However, 1525-1530 is now strong resistance and we do not expect the price to move back above this level.
We will look to re-open our short position around 1500, if we see confirmation that the price is weakening and a reversal apparent at this level.
We will look to re-open our short position around 1500, if we see confirmation that the price is weakening and a reversal apparent at this level.
YOU SHOULD NOT TAKE ANY MATERIAL posted on this BLOG AS RECOMMENDATIONS
TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED.
TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED.
Do your own due diligence.
No one knows tomorrow's price or circumstance.
I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader.
I do not accept responsibility for being incorrect in my speculations on market trend.
I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader.
I do not accept responsibility for being incorrect in my speculations on market trend.
King Regards
