Tuesday, March 31, 2009

Gold Immediately Bearish Beneath Trendline; March 31, 2009

Gold has traded sideways for quite some time beneath the ascdending trendline that has been intact for months as seen in the 4hr chart above. As long as it holds beneath that trendline, gold is very bearish in my view and should fall off a cliff at any time to the $890 support level at minimum.

I remain short gold.

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