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  1. #1
    Legendry Member Michael Hodges's Avatar

    Too Early To Be Bullish On Gold !!!

    Gold has reached resistance. I see no reason to get bullish on gold here. I am using the retracement to re enter put positions. 
    Too Early To Be Bullish On Gold
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  2. #2
    Senior Member LeeChang's Avatar
    It is really to early to be bullish on gold, but it is also I think too late to be bearish Michael I could enter put options on Gold but with shorter duration than your one month trade. One month is too long for me to clearly predict the outcome, but it is possible that you will be right. I wish you successful exit of this trade!

  3. #3
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by LeeChang View Post
    It is really to early to be bullish on gold, but it is also I think too late to be bearish Michael I could enter put options on Gold but with shorter duration than your one month trade. One month is too long for me to clearly predict the outcome, but it is possible that you will be right. I wish you successful exit of this trade!
    yeah, the retracement of gold is still going on but it may have reached its top. The metal is having a hard time getting above $1320.

  4. #4
    Veteran Member Ammeo's Avatar
    I dont think Gold is going to the 1500 level again too soon...Many market commentators are still bearish on Gold and termed it as "Still Overvalued"...there is a very low demand for gold in China too which was one of gold's major demand player in recent years...

  5. #5
    Solid Member
    It seems Gold is going to hit support point after retracement. but still now sure. Actually I am wanting Gold to be get high again.

  6. #6
    Veteran Member Ammeo's Avatar
    I Read a very nice report on Gold Yesterday on Motley Fool...worth a read...

    http://www.fool.com/investing/genera...ld-miners.aspx

  7. #7
    Senior Member raymond09's Avatar
    Your analysis looks too good for trading. yeah, gold have turned back to its bearish trend after hitting the resistance.

  8. #8
    Veteran Member Dan21's Avatar
    Gold price couldn’t fall forever, exactly because of the cost of the gold producers. It is very close to 1200$ per ounce and if the gold price fall bellow that value, gold producers will have to work with loss, which definitely could not last very long time. So they will eventually stop producing gold and with strongly decreased supply the price will go up again. That is the simple calculation. If we have price below 1250$ I will by as many monthly calls as I can, because it will be almost sure bet.

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