FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
Gold shows all the correct signs to suggest that it will drop , possibly for the rest of the year but certainly for the next few weeks. Gold is currently testing a very strong resistance trend line . Not only that, the market cycle suggests the end of a Bull market for the rest of the year. I'm expecting a bear market to start and be confirmed around July/August. I have entered a speculative short position with a tight stop. I have also opened another with hopes it will drop to where it was at the beginning of 2017. We have also had 3 strong bullish market pushes to the upside this year which is very similar to 2016's data, just over a shorter period of time. Gold may rise further before completing the move downwards but I don't expect it to based on the strong resistance it is currently facing.
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