Newmont, the Gold ETF (GLD) and gold itself have completed rally’s and (potentially) bearish pennants on the weekly charts.
Gold may face selling pressure in the short term as price meets overhead resistance. Also there are a couple of contrarian indicators which I spotted in this month’s issue of these popular magazines. Purely on balance of probabilities lightening positions, so as to add a second LOIL in the SIPP.
Trades on: Robusta Mar 09 buy 1/5 at 1,591 this week.
This article suggests a contrarian approach versus Goldstock Newsletters Bullish consensus.
