Gold's Technical Situation Still Not Good, Warns Seeking Alpha Article

It's by "Gold Core," and it uses a variety of technical indicators to conclude that the near-term outlook isn't good for the metal. (It was published before gold dropped below $1,075.) Interestingly, the author marshals fundamental reasons to make the case that gold will stay above $1,000.


There's not much to say after gold's fall to just above $1,060. Sentiment-wise, the current gold market isn't an unambiguous read because timing bearishness is often masked by reaffirmation of bullish fundamentals. Last Thursday's drop below $1,050 may have been a climactic bottom, but sentiment didn't seem to erode as much as such a bottom would do. Perhaps, we're in for a frustrating grind where hopes are raised and then dashed.