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The Garbage Called Gold

This is a syndicated repost published with the permission of Slope of Hope – Technical Tools for Traders. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.

Disappointment, thy name is precious metals. Take a look:

Here we see:

  1. An incredible island reversal pattern (see green tint);
  2. A failure to get past new resistance (red arrow);
  3. Failure of a major uptrend (circle)

It’s pretty clear gold is announcing deflation is on the way. I have a decent chunk of gold bars and coins, and it’s sad to see the value wither away like this. What a bunch of old world crap.

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