02/07 Gold Price Outlook

A Lookback

Last week we made another successful call of a local bottom.

Gold, 30-min chart

Since then gold did a lot of swings on the news and kept bouncing each time to new local highs. We remain of the opinion that the trend is down and therefore let our short positions float. The gold chart does now allow to add a credible short-term count.

Gold, 3-hour chart

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