For some reason, Dennis Gartman is way bigger here in Canada than he is in the United States. He was in the headlines today saying it’s the end of the gold bull market but just a few months ago he was saying he wouldn’t see $100 oil again in his lifetime.
I say it’s way too early to short gold, especially if it remains above the 200 dma. If that gives out, the 55-week moving average at $1555 is the next level to watch.
At the very least, I think we will get a $50 bounce before to 200 dma gives out.
