This is intended to be a forum for me to post chart ideas and hopefully receive feedback and stimulate discussion.It is not intended to constitute investment advice.
It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford
Gold looks bearish with most technical indicators. It is bullish long term but may potentially still correct. For me it is on the cusp - at an inflection point. Could go either way at present. Can identify the bearish short position on NCM on the ASX which is strong down for about six weeks. Have previously posted a very strong bullish position that can also take off from now. Bearish chart attached. Will be up tomorrow in the morning which is a good shorting position but being at the cusp can go strong either way. Currently long - if price falls below the midline of the white channel in the chart will go short. https://www.dropbox.com/s/bgzdpkb14wrl25v/NCM%20Weekly%20Alt%28Bear%29%2014-7-17.png?dl=0