Gold could catch a bid soon around $107.92 and start a bounce ! For those who are trying to buy some here I suggest you be careful with that blue line ... any close below it today and GLD will continue falling !
Update on the last post ! I am bullish on Commodities since mid mid Marchclick here ! Also bullish on Oil since mid march click here ! I will not turn negative on Oil & Commodities unless the diagonal support lines in the following charts of USO and DBC are broken ! I use USO and DBC as proxies for the other ETF's in the Oil & Commodities universe such as : RJI,DJP,DXO,UCO,UCD,USO,DBA,DBC,MOO,GSG,KOL,UNG etc...
Bullish on oil & commodities until the support line of this new uptrend is broken. The trend is your "amigo"..... for now ! That holds true also for the following ETF's(RJI,DJP,DXO,UCO,UCD,USO,DBA,DBC,MOO,GSG).
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