Gold: Where is the Future Direction?

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George Soros has offloaded his position in Gold recently and cause the Gold & Silver massive sell off in May. However, base on the long term chart (GOLD ticker symbol is GLD), Gold is still on the long term uptrend. Critical support to watch is $138 and also the uptrend support line (in solid green line). This uptrend support line is also the 23.6% line of Fibonacci Fan. Breaking this support level indicate the end of Gold uptrend and may start a major correction. Also take note that Gold price is all time high! What goes up must come down! Maybe it is a good time to short Gold soon. Trade with extra cautious!

If you are investing in Gold to hedge inflation, you may need to look at your Gold portfolio and decide yourself whether you want to take profit.

Gold Investing Record Profit Blueprint

SPDR Gold Shares Information

Disclaimer: This is my personal analysis and I am not a certified stock analyst to recommend buy or sell decision.

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Sound Global On Down Trend

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Sound Global is currently trading within a down trend channel. Also take note that the long term 200D MA is trending down. Currently Sound Global is trading below 20D, 50D and 200D MA which is also a bearish sign. Sound Global has to break the 200D MA resistance or the down trend channel resistance at about $0.78 to stop the bearish trend.

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Pacific Andes: Down Trend Start Soon

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Pacific Andes is unable to break above the previous uptrend support turned resistance. PacAndes is currently trading below 20D, 50D and 200D MA. Critical support is $0.31 which is the 61.8% Fibonacci Support and also the neckline of a Head and Shoulders trend reversal chart pattern.  Breaking the neckline may send PacAndes to about $0.25 level.

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