Gold Price Unlikely To Reverse Its Downtrend

New York (Sept 26)  Those that view the message of the market on daily basis are likely confused by trading noise. While trading noise contributes to the long-term trends, it does not define them. Human behavior tries to explain trading noise as a meaningful trend. This confuses the majority which, in turn, contributes to their role as bagholders of trend transitions.

Gold, not unlike cryptos or any other market, cannot be forced into action. We must wait for the tape and confirmation from intermarket flows.

If September's confidence numbers close above 91 at the end of September, an event confirmed by the preliminary release , it's highly unlikely (low probability) that gold will reverse it's downtrend in 2018 and maybe all of 2019 (chart). This is not a point to be argued but rather understood and followed. Confidence is tracked in the Matrix to eliminate guessing.

Investing.com

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