Waz Up With Gold

What the !@%$#%@ is up with Gold?

Tuesday’s action came as a shocking surprise to many gold market traders. On Tuesday we saw gold being pushed down to its lowest levels in days.

The sell off was enough to give us a red daily triangle signal and a neutral rating on this market. If you are a strict student of the red triangle signals, then you sold yesterday.

I’m not selling.

In fact, I added to my position in gold miner KGC this morning. I got a sweet 8% fire sale on the stock.

Ask yourself this question: is the rally in gold really over?

If your answer is no, then you have to buy on pullbacks.

It takes guts, it takes a little reckless abandonment.

So what is the next major retracement level where we may see gold bounce?

In my new video below I do a Fibonacci retracement on gold showing you some levels I think gold will go to on the downside. I also share with you what I think is setting up for an excellent buying opportunity, if and when our “Trade Triangles” are aligned.