So many thought we bottomed out in Gold. But what if Gold still has a LOT further to go? If you just look at the chart, it's essentially a classic bubble. Yet the drop from the bubble's top was not that much compared to the rise... that's not how this works. Note the very discernable head and shoulders pattern that just broke, where we now see gold falling violently. I hear the arguments that there are record shorts in Gold right now, and that's normally a positive indicator for a rally. But I'm not convinced this is going to be enough right now, I think those who are net short tend to "know" some more fundamental stuff than many of the rest of us do. This is deflation people.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.