Gold: False reversal?

May 10, 2017 09:22 AM
Chart of the Day

Gold likes to print false reversals to sucker in longs too early. I'm not convinced the daily cycle has bottomed yet. 

About the Author

Gary Savage started SmartMoneyTracker in 2007 right before the bear market began, and called the top in Nov. 2007. Cycles and sentiment are his two primary analysis tools. In his teens, he was a national Judo champion. He was a national weightlifting champion at 26, and by 39 he was a world weightlifting champion and world record holder. An entrepeneur his entire life, he has multiple businesses in addition to SmartMoneyTracker.