Gold Should Produce A Short Term Bounce From Here


We seem to have a failed daily cycle in the gold (NYSE:GLD) market which means that we wont see any new highs in this intermediate cycle. I believe we will get a short term rally in gold as sentiment is at depressed levels before rolling over into an intermediate degree decline. May lows have to hold if this bull run is to continue. RSI levels are at oversold levels and sentiment is ultra bearish – something we always see when a major asset class is about to print a firm low..

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