Gold Short - Too Expensive to Buy, Dollar Rebounds
I kept trying to long the gold and I honestly have to cut my losses a couple of times from doing so.
Then I realise one thing, gold has been running bulls for the past 3 months which simply means one thing - gold is too EXPENSIVE!
And on the other hand, the dollar's attempt to drop is showing not much result.
It has made 3 waves of bearish trend and it is now sitting at 618 level but not limited to the 4th or even the 5th wave though.
However, should we see that the dollar make a strong and successful rebound this week, the gold is next to guaranteed to fall quickly.
Then I realise one thing, gold has been running bulls for the past 3 months which simply means one thing - gold is too EXPENSIVE!
And on the other hand, the dollar's attempt to drop is showing not much result.
It has made 3 waves of bearish trend and it is now sitting at 618 level but not limited to the 4th or even the 5th wave though.
However, should we see that the dollar make a strong and successful rebound this week, the gold is next to guaranteed to fall quickly.
