Trend Reversal – if Gold Trades Below $1,500?
As pointed out in the last analysis, gold is going through the consolidation phase at the moment. If the long-term Bull Run is still in place, this base building in the $1,500 area will be the platform to move gold above $2,000. However, if the $1,500 support breaks, it is a signal that this major up-trend is over. A further drop in gold is no longer a technical correction but a reversal. The two major levels that I am looking at are $1,500 and $1,700; a break of either of these levels will set the next direction for the precious metal.
Any opinions, news, research, analysis, prices, or other information contained in this article is provided as general market commentary, and does not constitute investment advice. Commoditiesforexnews.com and author will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
Bringing Facts to Bear on Budget Decisions The Next Few Weeks are Critical for U.S. Equities
