Now that the cup and handle formation is complete, and gold has clearly broken through the red resistance line as seen on the chart, the next thing to happen is to test 1380....
The 1380 resistance has been a strong over the last few years....Breaking through wont be an easy task....
I think that a an interest rate cut of over 50 basis points will be needed in order for this to happen....Seems to be already priced in....
If the rates drop by 100 basis points, Gold price will move past the 1380 mark without too much of a struggle....
Listen to the man stream media, listen for clues on rate cuts and the numbers the talking heads start throwing out...expect the Fed to be a little more conservative than the media....
I have been saying this for months now, The mainstream media is used to condition the brain of the masses to be accepting of the fact that our currency will be devalued at the expense of the many...
It all started as a rumor and now it has taken over as reality...People are now jumping up and down for rate cuts...this was the plan all along...only the few knew this...most people are brainwashed into believing that the economy is strong...Look back at my Gold ideas since early April...I have been saying this all along...to Me it is obvious what is going on...The dollar will be sacrificed to keep the Debt Ponzi Scheme Alive, Until Hyperinflation....
The 1380 resistance has been a strong over the last few years....Breaking through wont be an easy task....
I think that a an interest rate cut of over 50 basis points will be needed in order for this to happen....Seems to be already priced in....
If the rates drop by 100 basis points, Gold price will move past the 1380 mark without too much of a struggle....
Listen to the man stream media, listen for clues on rate cuts and the numbers the talking heads start throwing out...expect the Fed to be a little more conservative than the media....
I have been saying this for months now, The mainstream media is used to condition the brain of the masses to be accepting of the fact that our currency will be devalued at the expense of the many...
It all started as a rumor and now it has taken over as reality...People are now jumping up and down for rate cuts...this was the plan all along...only the few knew this...most people are brainwashed into believing that the economy is strong...Look back at my Gold ideas since early April...I have been saying this all along...to Me it is obvious what is going on...The dollar will be sacrificed to keep the Debt Ponzi Scheme Alive, Until Hyperinflation....