I was very surprised as many traders wrote that they bought gold last week.
Sure, there have been a lot of uptrends since 1980, but it did last.
Now downward trend from August 2011 (about 1,400$) is more important and familiar for stockbrokers.
I think it’s inappropriate to plan active buying in such environment.
Descending triangle of 2013 also adds negativity. This pattern could bring gold to the level of 950$.
Sure, there have been a lot of uptrends since 1980, but it did last.
Now downward trend from August 2011 (about 1,400$) is more important and familiar for stockbrokers.
I think it’s inappropriate to plan active buying in such environment.
Descending triangle of 2013 also adds negativity. This pattern could bring gold to the level of 950$.