Thursday, January 02, 2014

Warning on Gold

Gold could still go down more, despite its strong showing at the start of 2014, if you look at the yearly and quarterly charts of GLD on bigcharts.com those charts do not look very bullish, Martin Armstrong is still saying Gold could go between 850 and 1050 going into Q1 2014 which contradicts my oscillator for the silver low in late December which given the strong rally today looks like it has legs but we must be on guard of  the rally stalling out.  The fact that DUST the 3x leveraged bear fund did not get to up as high as it did last June even though Gold went to about the June lows, does not argue well for the bearish case though.

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