Our argument here is simple. Expect another sell off in Gold this May 2015 (just like the one in 2014 and 2013). Our expectation is gold to retest 1150 -1160 area - somehow maintaining a fragile bull flag formation (although we have to admit prices are trading below 50% fib retracement) HOWEVER, we cannot deny this range could still play out.
We again argue that demand will pick up near to end of May or beginning of June for a rebound after it tested the long term trendline (as shown below).
We again argue that demand will pick up near to end of May or beginning of June for a rebound after it tested the long term trendline (as shown below).