Gold has been pressed down with some global fears or a stronger dollar. But as we know, the value of the dollar should decrease.. In that consideration, there`s also one profiteur from this weak currency - Gold!
For now, i have one trendline which i bet on.. I trade on this line and this green trendline seems to be one stronger than others.. Gold has been oversold, so i think its the best opportunity to buy Gold or GLD in this moment.
I have to laugh, when i hear that Gold will fall and i always try to explict that there is nothing to get scared about Gold.. Its just a movement by the market makers like JP, MS or another Fund Manager.
So i dont get scared and i stay long on Gold.. The red area means a oversold area for me..
Btw, Gold has been outperforming the US-Indexes yesterday.. The reason for that were some actions by SPDR