Short Gold

For various reasons from my analysis……
I am calling the price of Gold lower.

The chart below is one analysis snippet sample showing you how the current rally has occurred with little and waning volume, unlike previous advances.

So the trade is……Short Gold around its current level of $1,717,
Stop Loss, at a monthly close above $1,805. (5% risk)

If it closes above this level, reverse the trade, Go Long and we’re off to the races !

Initial downward targets are;
$1,380 (19% reward)
and ultimate target $1,300. (24% reward)

Could possibly overshoot to $1,251 – $1,268 region.

Let me put this way…..I don’t want to own Gold at this price and this stage, whether its for a hedge, armageddon or any fundamental reason.

There are other better investment opportunities elsewhere as I feel a “long” Gold trade is a marginal trade, at best.

Note: these are my personal notes and just a digital record…..not personal advice to you..…see my disclaimer so you don’t get hurt and you don’t sue me.
Stay safe !

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