I have been following gold for a couple of years now. I see this going short basically when the market opens.
I think it will go short to the 1500 levels. Gold must drop for investors to buy at a lower price.
Don't be the 70% of traders that lose. You have to think of gold as a supply and demand. No one wants to buy gold because the price is to high. Therefore it must come down. Once it comes down to 1500 levels, gold buyers will then invest their funds into gold for profits.
If you also look at my RSI (Relative strength index) you can see it still also needs to come downwards to hit the trendline.
I think it will go short to the 1500 levels. Gold must drop for investors to buy at a lower price.
Don't be the 70% of traders that lose. You have to think of gold as a supply and demand. No one wants to buy gold because the price is to high. Therefore it must come down. Once it comes down to 1500 levels, gold buyers will then invest their funds into gold for profits.
If you also look at my RSI (Relative strength index) you can see it still also needs to come downwards to hit the trendline.