Gold continues to chop around in price ranges it's been visiting for over a year. I'm sure true gold bugs aren't tired of it, but .... Now in the past few days, it curled down to a point where it looks like I could add yet another parallel, uptrending support line. If it's going to rise up in another rally leg like a wave 3 of 3 up, it would seem about time, or soon! Otherwise, can it chop around much longer? Or if it confirms my bearish view, then it will lose the support and that's that. Seems pretty obvious - it's just also at a time when it might move inverse to the dollar and maybe will favor the deflationary point of view too.
Subscribe to:
Post Comments (Atom)

No comments:
Post a Comment