Posted by: stockscooter | December 20, 2012

Gold Ain’t Lookin’ Pretty

This is the chart of the week.  Gold breaking down with force.  The pitchfork shows levels of support and resistance, however I have it on this chart to identify the down trend that it’s in, currently.  You have to ask yourself, “Why are precious metals breaking down?”  And, “Why was there a huge short-cover rally in the broad markets?”  Think about it and get back to me with your opinion.

ZY243987-47

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