Gold, How Low Can You Go II

Gold saw the collapse phenomenon this time we should be recorded as history. Gold indeed decrease this time will become history and will be remembered by investors and traders. How not, Gold became a commodity glorified by many investors and traders because gains are tremendous. Gold predictions that will quickly go back to a level of $ 2,000.00 or even more a news analysis in a variety of media. For those of you who still remember the year 2011 ago where Gold reached its highest level in the range of $ 1,920, all analysts, traders, sales and marketing, and all the news media in an uproar. Gold to be excellent and is predicted to continue to rise and rise.

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 Two years later, in 2013, it was all a dream has turned into a nightmare for the "Modern Gold Diggers". Since reaching the level of prices in the range of $ 1920, Gold has never rise again exceeds the price, and now Gold has been reduced to a level of around $ 1180. This means that in the last 2 years of Gold against USD has dropped by $ 740. This is a price reduction that never existed in the history of Gold over the years. In fact, if the last 2 months alone, we told you that Gold will break the $ 1,200, many people who would not believe and see that it is impossible. Now the reality speaks otherwise.

The question now is where Gold will be heading next. Technically it can be seen that the market sentiment is still very negative Gold also lacks the weekly downtrend is still clearly visible. After penetrating the price of $ 1200.00 price range of $ 1,200.00 - $ 1,180.00 will be an important psychological support as well as support to be passed. If the range of support last week successfully penetrated the Gold will be heading to the range of $ 1,150.00 - $ 1,145.00 which also serves as a monthly support. If achieved this would be an important support where breach of this support could bring the collapse towards Gold $ 1100.00.

 However, there is little doubt to continue to sell Gold at current levels. Because the current Gold price has reached the miners gold production. Meaning if Gold falls further it will be a lot of gold miners out of business. Price $ 1200.00 Gold is considered cost price and may be an attraction for the buyers back into the market.
 Looking at the phenomenon of fall Gold prices today, it would be wise if we wait for confirmation to Gold being bullish reversal before entering long positions.