Gold Cycle is Coming Back, a Warning to the Bears

By: readtheticker | Thu, Jan 23, 2014
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Gold Bars and coins

Gold (GLD Etf) has a powerful cycle.

In the 2013 down swing the cycle for gold lost influence, in the last few months the cycle has come back. This means a shift in trader action, bulls are coming back to gold. If 125 is broken then this is extreme pressure for the bears and more short covering is likely to push gold higher.

The chart.


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Investing Quote

"Anyone who buys or sells a stock, a bond or a commodity for profit is speculating if he employs intelligent foresight. If he does not, he is gambling." ~ Richard D Wyckoff

"The first rule is not to lose. The second rule is not to forget the first rule" ~ Warren Buffett

 


 

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Author: readtheticker

readtheticker
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