does anyone know peter brandt ? supposedly he is a world class technician.
But he makes the following chart and says all of us regular technicians are not doing sound charting principles. And then he says he is going to short gold
I don't care if a trendline is broken by one penny. A break of a trendline should be treated with RESPECT with the view that it is going to be broken.
what an idiot... or is he spot on ?
It seems to me that this kind of attitude by him could lead to a massive short covering rally like we have never seen.
yes i have read some of his analysis before.he seems offer sound reasoning and backs it up with good explanations.he only comes out once or twice a year , i believe he is with a big money management firm catering to high end clients.
here he does not offer much explanation about that trendline.[why is it bogus?],but then there might be more to his article, which you did not post. keep in mind that a lot of breakouts fail !
my personal opinion is that GOLD dips here,,maybe into july or so ,,then to start a bull market to last years.but as always TWT.
on a side note :It appears to me that a lot of commodities that i follow seem to get ready to turn UP for the longer term [gold , oil , coffee , most of the Ags] the reason for this will show up later , maybe big inflation and recession ?who knows and who cares , it will offer good trading opps.