It seems market is looking at oil price. I expect oil price goes more down which will effect the gold price in next week. Gold has reached its max so we also expect a little drop in price. We also can take a look at S&P, it is close to break its support level. We need one more negative news to break the support level in energy market which will lead to another market sell off including gold. Next week is interesting. :)
Comment:
The idea is still valid.
Comment:
The idea is still on the track!