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gnostication

Gold to fall for the next 1-2 months

Short
iShares Gold Trust Shares of the iShares Gold Trust (AMEX:IAU)  
gnostication  
AMEX:IAU   iShares Gold Trust Shares of the iShares Gold Trust
Chart Patterns Technical Indicators Fundamental Analysis
2
0
chartpattern indicator fundamental
  1. Bouncing off the top of the LuxAlgo
  2. Retail is buying for fear of the current economic uncertainty, so it's a good time for whales to squeeze the longs (and create even more uncertainty/FUD, to be exploited later)
  3. JP Morgan has a huge short position
  4. Multiple indicators are all pointing to an oscillation reversal (e.g., MACD about to cross down, RSI about to cross down, etc.)
  5. I don't expect the price to reach too low. Around $34.88 for the IAU ETF.
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