Gold Trend Line Support:

Diupdate
June 6th, Gold broke above the long term trend line that started with the peak on 9/05/2011, and has now reversed back below this trend line. It is currently trending dowward for a full month as of June 30th.

June 30th, Gold finally broke below the short term trend line beginning with the recent low on 12/14/2016, after bouncing off it on the 18th and 26th. It is currently consolidating for 10 days at the the bottoms of a narrow $15 price range between 1240 and 1255.

A break below 1240 would be an ominous sign, and could result in a subsequent drop to the 1160-180 range by the end of July.

Watch the FOMC meeting on July 26th to trigger a final bottom on Gold for 2017.

Catatan
July 7th - Panic selling has begun today, and it should be a fast drop, followed by a week or so of sideways trading up to FOMC meeting on July 26th.

Holding my short positions until then.

Pernyataan Penyangkalan