I suspect we still have more downside left in Gold, i am targeting 110 on GLD and under $1180 on GC_F.
Short term i cant rule out a triangle for wave [4], but i still feel we need a nasty flush and blow out the stops lower down, the bulls need hurting.
Sentiment needs to be a lot more bearish to suggest an important low, i want to see comments like "Gold is dead, Gold is worthless, never going to rally etc etc".
Seeing those sort of comments & if i see Gold near $1150 is a good sign.
We should see more bearish comments, we are seeing a few bears come out and tell how much of an expert they are, but notice how vocal they come AFTER the move.
NCM Price at posting:
$7.77 Sentiment: None Disclosure: Not Held
