Continue and confirmed from my prediction last week on Dec 2nd "THe worst is almost over. Break 1,169 and Let the magic begins" URL below the section.
She did it! Even 3 days sooner than the forecast.
What a persistent precious metal she is!
Never in a market something will just go up or fall down as a stragt line, there must always be indeed a correctoin ( a rebound, a throwback, a pullback).
Not of logical element but of short term emotinal of the crowd and the contarian.
Some leading indicator and inter-market correlation confiming the short term bounce.
She did it! Even 3 days sooner than the forecast.
What a persistent precious metal she is!
Never in a market something will just go up or fall down as a stragt line, there must always be indeed a correctoin ( a rebound, a throwback, a pullback).
Not of logical element but of short term emotinal of the crowd and the contarian.
Some leading indicator and inter-market correlation confiming the short term bounce.
- - Bond Yield Fall, Gold Rise
- $US Index weakening after a rally hit the resistance line, forming a bearish head and shoulders. Specilative decline to 99.5
- Japanese Yen hit support line 61.8% Fibo and ready to bounce. The Yen has a positiver correlation with Gold.
- The Nikkei ralll up hitting stronly at 61.8% Fibo resistance line and start the correctoin coming down, The Nikkei moves opposite way with Gold.
- Mining stock refused to go down any further and bounced. The strenght of the miners is also another bulling sign for a short term, and only for short term bounce for gold.
Position: Long
Near Price Enter: $1,175 / $ 1,177
Initial Target Profit : $1,205 / $1,215
Stop Loss : $1,166
Risk/Reward Ratio: 3.35
Profit: $30 - $38
