Looks like GOLD is still on its bear trajectory heading south to $1048ish soon. By soon I mean perhaps a few months or less.
Seems like gold is coming to a crucial testing point. It is what traders call a “DEATH CROSS” and for good reason. Typically this test can lead to a complete meltdown of the asset whatever it may be. In this case it is GOLD.
What will happen? Nobody can say for sure but the test is coming up very soon.
Will it bounce off the test ? Will is Collapse ?
My bet is it will collapse, but that’s just me.
If you look at Gold action these past few weeks, it almost seems like they are taking GOLD down. Nothing is for certain yet as no move has happened and every other country is lowering rates but who knows.
Is gold getting beaten up because the FED is going to BLUFF about raising interest rates again on Friday?
Na. This is just simply a game. Scare people out of GOLD for a bit until Friday and then say “There isn’t enough good news to raise rates.”
Same old same old.
Watch what happens on Friday. Then the truth will be known to everyone.