Bearish Tone For The Gold?

iShares Gold Trust Shares of the iShares Gold Trust (BATS:IAU)

BATS:IAU iShares Gold Trust Shares of the iShares Gold Trust

After successful brake above the triangle consolidation almost everybody started buying on the evidence of renewed bullish trend. However the party lasted up to yesterday, when the price of $1632 closed below long term trend (200-day moving average). The most bearish case is around $1500 level. However the overall expectations for the gold support long term appreciation with target price $1950.

Penafian

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