i see something else what's on the news with the USA spying on Germany, the fed reserve http://www.cnbc.com/id/100382718 , if relations fail's, this could be amassed sooner than anticipated, causing a big free fall in price, this is not a good sign, im sad for the little people, the public, that bought gold on the slid at wont be able to sell, who can afford to loose so much, they are the sheep, we are the Shepherds,
i think also looking at who is making what satellite and how many as there made out of gold, and platinum ,so hence the price goes up mmm that would be an interest to see if there is a spike when one of these satellite's is ordered, whats your thought on this ?
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Both the Fibonacci and Gann Fan are used to identify potential areas of support on the chart. Once the lines have been compromised(price falls below) they resistance(to rising stock price). The chart demonstrates this well. Currently the price of gold is resting on the light blue line of the greater Gann fan. If this line of support should fail, the yellow line of the minor Fibonacci set is next inline. This will go on until eventually the price of gold stops declining. I see these lines as lines of pain. Pain for anyone trapped at a higher price. As the price falls, they are tempted to sell and buy back later. The longer they wait the more painful it will be. At some point the selling will stop and the buying will begin again. These lines are an attempt to predict this cycle. Looking at the minor Gann, we are in the fast part of the free fall. Here is a bit more on Fibonacci.
Just made a quick look at diamonds. They are not fairing well either. All the earth has to offer(commodities) has taken a hit while the market climbs.