When the monthly RSI gets to 40 start to watch for signs of support on the chart…and buy into that fear. I warn you it will be difficult as everyone will be declaring the gold bull market over. My analysis suggests that anybody buying now will be underwater very soon, but a great long term buying opportunity in gold could be a few months away.
Trading bias – I would either be short or neutral looking to add to shorts in the coming days to weeks. I would not be long gold right now as there is too much risk to the downside.
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