MidasTouchConsulting

Gold - final sell off, prolonged consolidation or new up-cycle?

FX:XAUUSD   Gold Spot / U.S. Dollar
Here are the potential scenarios:

1. More sideways consolidation above/around $1,200 over the next couple of weeks until 200MA ($1,266) is hitting $1,200. That might take some more time.

2. Final sell off down towards the rising 200MA ($1,166) which would get everybody panicking and would create an outstanding entry chance.

3. The lows are already in and once gold             takes out $1,262 the next target around $1,345 will be approached rather quickly.
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