Gold will show Either side Breakout after showing big volatility as FED MEETING ahead on 19Th Jun 2013.
FED will Announce either QE3 will continue or not in that meeting.
Gold is already in downward rally, any Bad news, might put more pressure on Gold & other commodities like Crude oil, Base metals etc…
there is a major possibility to show downside breakout in gold, silver, oil, but nobody can guess What Ben Bernake Will speak.. So either hold short position with Strict Stoploss or stay out side of market.
Any positive rumor/ news can starts short covering as there is too much short positions in market in Gold.
As Fear is the biggest Market mover, short covering may show unexpected rally.
all in all small traders should remove their positions, as their risk ability is small.
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