Gold Futures Chart
On Monday morning, we posted a note about Gold Futures hitting our upside price target.
We noted that one could take profits, hedge, or go short over the near-term.
Since that note, Gold is down over 7 percent.
Price could fall a bit further, but I think it’s wise to close short positions and wait for the next reversal / signal.
Gold has fallen sharply and slipped below the 40 week moving average, similar to Feb 28. I’ll watch for the next signal.
The author may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
