Gold: Still Further to Drop

Oct.22.08 | About: DB Gold (DZZ)

dzzClick to enlarge

This is an extremely bullish chart (click to enlarge) on the double short gold ETF which doesn’t bode well for gold in the short-term. It’s been dropping quite a bit lately, but until this chart shows a more prominant topping pattern, it looks like it has further to drop.

Click to enlarge