sugardaddyFED
Long

XAUUSD - Build in May & Go Away!

FX:XAUUSD   Gold / U.S. Dollar
Our argument here is simple. Expect another sell off in Gold             this May 2015 (just like the one in 2014 and 2013             ). Our expectation is gold             to retest 1150 -1160 area - somehow maintaining a fragile bull flag formation (although we have to admit prices are trading below 50% fib retracement) HOWEVER, we cannot deny this range could still play out.
We again argue that demand will pick up near to end of May or beginning of June for a rebound after it tested the long term trendline (as shown below).
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