Gold is on the Verge of the Next Major Decline
At the moment of writing this alert our full 250% net short position in gold -0.34% 0.14% 0.79% , silver -0.13% -0.06% -0.26% and mining stocks are well justified from the risk and reward perspective.our positions are in good profit but it seems that our sizable profits on the short positions are going to become even bigger shortly.
Summary-The next reversal date for gold is August 21st and the reversal date for gold stocks is August 23rd. With multiple factors pointing to a looming and significant decline and two important reversal dates in about 2.5 weeks, we can see a sharp slide very, very soon.we’re going to see a rally in the USD Index to the 98 level or so and this would correspond to a big slide in the metals and miners
the outlook for the precious metals sector is extremely bearish and there are signs that we’re on the verge of seeing another big wave down and that the next local bottom is going to form in about 2.5 weeks. In other words, it seems that our sizable profits on the short positions are going to become even bigger shortly.
The conclusion-our outlook for precious metals is very bearish for the medium and long-term, we will keep you informed anyway,
many regards-Neeraj Pandey
Our existing positions
ASSET--XAGUSD
Sell Limit Price: 15.500
Take Profit: 12.80
Stop Loss: 16.46
ASSET-GOLD
Sell limit Price: 1231
Take Profit: 1080
Stop Loss: 1275
( It doesn’t, however, mean that we won’t adjust (limit, close or even reverse) the position before this price level is reached. If we get enough confirmations other than gold’s price level itself (for instance, mining stocks show strength and silver -0.13% -0.06% -0.26% -0.19% -0.06% reaches a very important support level , while the USD reaches a key resistance), then we might do it, just like we’ve done previously (which ultimately caused the short position to be more profitable).
Summary-The next reversal date for gold is August 21st and the reversal date for gold stocks is August 23rd. With multiple factors pointing to a looming and significant decline and two important reversal dates in about 2.5 weeks, we can see a sharp slide very, very soon.we’re going to see a rally in the USD Index to the 98 level or so and this would correspond to a big slide in the metals and miners
the outlook for the precious metals sector is extremely bearish and there are signs that we’re on the verge of seeing another big wave down and that the next local bottom is going to form in about 2.5 weeks. In other words, it seems that our sizable profits on the short positions are going to become even bigger shortly.
The conclusion-our outlook for precious metals is very bearish for the medium and long-term, we will keep you informed anyway,
many regards-Neeraj Pandey
Our existing positions
ASSET--XAGUSD
Sell Limit Price: 15.500
Take Profit: 12.80
Stop Loss: 16.46
ASSET-GOLD
Sell limit Price: 1231
Take Profit: 1080
Stop Loss: 1275
( It doesn’t, however, mean that we won’t adjust (limit, close or even reverse) the position before this price level is reached. If we get enough confirmations other than gold’s price level itself (for instance, mining stocks show strength and silver -0.13% -0.06% -0.26% -0.19% -0.06% reaches a very important support level , while the USD reaches a key resistance), then we might do it, just like we’ve done previously (which ultimately caused the short position to be more profitable).
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