Gold ideally used the threat of war between Russia and Ukraine and today has established another high at 1350 dollars. I believe that this trend is at the moment not in danger and in the near future, we should reach the levels of 1420 dollars.
Only at this point the market will decide if we will draw a further downward movement by establishing new low or demand proves to be strong and break through this level. Then you will be able to talk about the end of the correction in the gold market, which lasted from September 2011.
But until then, I recommend a long position. At the moment do not put a stop loss.
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| chart 1. Gold Daily, 2014-03-03 |
regards,
oscarjp
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