ZGG7 flirting with 600 levels

This AM the GOX broke recent support level from mid Nov. From here the 6 month bottom was put in only a month earlier in the 1st week of October. That would mean if a retest occurs, another 7.5% drop from current levels.

Anyone scaling in a position here??

 

No plans to scale back in until the XAU reaches 115-120. This would mean gold down at 580 or so.

 

I think we'll likely see a further decline into AUGUST -SEPT hitting a trough- countered along the way by brief rallies and renewed hopes of breaking 700.00

 

http://charts3.barchart.com/chart.a...&vol=Y&evnt=adv&grid=Y&code=BSTK&org=stk&fix=


Chop seasonals coming up.Charts too clean, for it to continue like this.
JMO.