The downtrend of GOLD?

UPDATE: Gold price 2011

Some of my friends who are selling Kelantan Dinar always promote to me to buy Dinar. But I believe that it is too late for me to buy gold because I expect that gold price will go down. It is very overbought since a few weeks ago… and I don’t think the price will continuously increase.

Either gold price shall retrace, or the bullish turn to bear. 1430.83 is the highest price at this moment. Will this level hold? I hope so. I do hope there will be no new high for gold, and I do hope US Dollar become stronger and stronger. Then when I withdraw my Google Adsense, my income from my trading.. I can draw it with cheaper Ringgit.


I can see a possible triple bottom at 4 hour timeframe, RSI is not yet oversold.. and Stochastic as well. If the price break the previous low, then it may target 1350.


Leave a Reply