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Friday, April 18, 2014

Gold, are we in for another leg down?

I already posted I lightened up heavily on gold miners, but I am still in for long haul.
However, I have to point out that gold maybe in for another leg down.
The gold trend line from it's low is in danger of being violated.
Once violated people who watch trend lines will likely pile on to short gold, and push it down.
The next line will be to violate it's recent low.  If that is violated, gold could tumble a bit more.

See the chart, do what you must to take risk off the table.

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