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Thursday, September 15, 2011

Gold break trendlines

It is looking VERY grim for gold prices in the near term, broke trend line onto the downside. Considering how far and how fast gold went up, there could be a bit of a pullback in gold akin to what happened to silver. Keep in mind that China and other speculative countries likely are margined to the max on gold and silver. The price deceleration may accelerate, or quite possibly right here and now is the near term low and the price rise will resume, but I doubt it. I will likely just exit gold and sit this out, like I should have in the first place. Good luck

From WebSufinMurfs FinancialBlog2

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