To Stay With a Long Term Gold Trend Requires True Grit

By: readtheticker | Wed, Feb 13, 2013
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Gold is in a very healthy accumulation phase, and gold may yet test the lower end of the current trading range, do you have the true grit to hang on.

The current gold sell off is not like the most recent Apple Inc sell off, as rising volume on the down swings is not apparent. The sell off is considered mild and very bullish. This blog hopes for GLD print of $150 or $140 as to allow more buying.

The gold fundamentals are still strong. FED, BOJ, BOE and China are still increasing the world money supply. The US (and world) debt risk is increasing due to the US Ten year note rising above 2%. Interest rates are now rising faster than stock prices, ouch! Jim Rickard's currency war is in full progress.

Gold Gann Angle and Cycle chart...

Gold Gann Angle and Cycle Chart

Gold volume study...

Gold Volume Study

 


 

readtheticker

Author: readtheticker

readtheticker
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