I've been short Spot Gold
) for the last three years. We've been trading within a wide range for some time now and I feel global conditions will force investors back into this market. My view shows one last push to the downside to target Demand Zone
to achieve 1080-1000(A). I believe we'll see a spike from this point and a reversal of the overall trend to target firstly 1400-1450 (B). Then a retest of inner trend line
(C) before making an upside move towards 1600-1650 (D) and breaking through the outer trend line
. Then a re-test of the current monthly range high and outer trend line
(E) before targeting 1800. My overall target within the next few years will be 2000-2500.