Gold Prices Forecast to Bounce Before Larger Decline

| 9 maj, 2013 | 0 kommentarer

ssi_GOLD_body_Picture_12.png, Gold Prices Forecast to Bounce Before Larger Decline

GoldRetail forex traders remain marginally net-short Gold versus the US Dollar (ticker: USDOLLAR), and our contrarian view of crowd sentiment leaves us in favor of short-term strength.

Trade Implications – Gold: Two weeks ago we wrote that the majority of retail traders turned short Gold prices for the first time since January, and that was an early warning sign that a short-term bottom was in place. .

We’ll nonetheless keep sight of the bigger picture. As tempting as it might be to buy in expectations of a minor bounce, long-term studies favor continued Gold price declines.

Written by David Rodriguez, Quantitative Strategist for DailyFX.com

To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up for his distribution list via this link.

Contact David via

Twitter at http://www.twitter.com/DRodriguezFX

Facebook at http://www.Facebook.com/DRodriguezFX

Taggar: ,

Kategori: Analys från DailyFX

Om skribenten ()

DailyFX från FXCM ger dig dagligen färska tekniska analyser på valuta och råvaror. FXCM är en ledande handelsplattform för trading av finansiella tillgångar med kraftfulla verktyg för alla sorters handel.

Lämna ett svar

Din e-postadress kommer inte publiceras. Obligatoriska fält är märkta *