Major gold test coming

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My charting is basic and I'm very much enjoying learning more from this forum, but seems to me that the gold             trend is still down and the test of $1180 is going to be the main event. If it breaks this to the downside my charting suggests $990 is the next target. This will probably be short lived due to simple supply/demand fundamentals.

As someone that has been in the gold             space for 25 years mostly at the exploration, mining, corporate level and social level (see au ) I believe that the macro fundamentals for the gold             space are suggesting that we should see a bounce off $1180 (or even $1200). The main theme in the macro space is the increasing disconnect between the physical and derivatives markets which is currently being driven by Central Banks . This is (and will be exponentially) closely followed by private ownership which will start ramping up during the later half/quarter of 2015.

In short, it's seems reasonable that we'll see the gold             price smashed down to the $1000 mark, but fundamentals will drive it back up quickly...and as someone that's building two gold             mines, this is not what I want to hear but hedging is the key!

Please provide your feedback on my charting above, as I'm interested and keen to learn more...thanks and cheers Rod
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