Gold at the lowest level in the last 4 years!
Global warming is melting even gold? 🙂 Of course not, but gold melts furder and today has find a new 4 years low at 1130. It looks like the gold was oversold in the last period and that the bulls decided to buy this precious metal at multi year low level all the way back to the 1245. Could this 1130 level be the bottom for this year? It’s hard to say because we can see that the gold is falling sharply and technicaly there is no strong support all the way down to the 1040/60. But, on my oppinion, gold could find the strong buyers everywhere on the levels below 1200 usd. On the way up, there is several minor resistance levels and I don’t expect to rebound so easily over 1180, but let’s take a look what could happen here? I think it could become very interesting now. What is your view on gold?