Gold: Where is the Future Direction?

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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