Gold and the bearish sentiment, and how most will be left behind
Most Traders, including those just starting out and those that do this for a living – and [ahem] suck at it – don’t yet fully understand the meaning of ‘climbing the wall of worry’. Do you get it now folks?! Slow and steady wins the race.
The gold bullion banks cabals "line in the sand" since the May high, continues to be $1,207.42 oz
ReplyDeleteThe 3rd Q weekly average price proves this out at $1,125.78 oz
Until gold manages to hold a weekly close above $1,228.00 oz this sideways chop, with a slow down trend will continue. Barring any extraneous shock.
Excellent analysis Bill. If gold can bounce from here (1136, near the 61% fib retracement) we should get a nice rally.
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