That's a big statement to make, I know, is gold really about to collapse? Well, I can tell you this, we have been waiting for this drop and watching it take place for many months now. In fact, price was in the 1300's when I first mentioned to members that a drop was to be expected. I had anticipated this even before the institutions started to pile on to their short positions. Now looking at the institutional positions, we can see they are being aggressive with their shorts.
We are expecting things to become even more bearish in the months to come and we will be watching for shorting opportunities once the banks decide to remove this weekly demand we are currently in. Have a watch of the the #gold analysis I did today for members.
So be prepared traders, if you trade gold and you are looking to get in short, I think you are on the right path! Till next time, trade safe out there!
Magic Trader