We went LONG on this back on 5/9 because we saw it hit a strong and also because of the BIG picture that we see coming. Many traders right now are very on Gold and rightly so since the USD seems to be on the verge of self-immolation! But we see it differently.
Here's our we released back on 5/21:
In this , you can see that we are expecting that we should see an rather strong move down after this current corrective move up into the MAJOR downtrend TL. This analysis is the one that we see as most likely to happen. Of course, there's no guarantee of it happening but that is why we keep a constant eye out on Gold and issue notifications and updated charts on it.
But watch for what the PA will tell us when it reaches the MAJOR TL which should serve as resistance. If Gold can't break through it DECISIVELY, then look for it to SELL off! We will be there when it happens. Want to be alerted when it does happen or be updated on Gold's moves? PM me.
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