GOLD NEAR TERM OUTLOOK

As price closed well above $1209 and price approaching oversold conditions, creating a divergence to the upside, a test to recent highs of $1239 is likely. Looking at the Monthly chart MIDAS R1 is containing price perfectly and is expected to hold the closing price of the month. A change in trend have yet to occur, this is for now simply a high in the downtrend that will take us below the $1000 mark in the long term. This move in price will be reflected on the EUR/USD and USD/CHF as they are heavily correlated with GOLD.

Comment:

"When we look at the volatility and panic cycles starting next week, it appears the crisis may emerge in Europe." - Martin Armstrong

"We can see how this crisis could help an extended gold rally." - Martin Armstrong

To find out more, visit: www.armstrongeconomi.../euro-near-collapse/