gold has dropped and shall keep dropping from current level ,dollar strenght is always gold negetive ,if you see the close of eur/usd it is showing good strenght to weeken further
Now it will get correct to 1325 to 1333 area. After that we will start toward the next target 1260-1270
1223 1180 possible downside targets $GDX $DUST $NUGT
I like how the Fibonacci retracement and extension levels match up around the whole number giving gold a 100 point range. My original position was entered at 1316ish and subsequently sold at 1352ish. Now I'm looking for the next trade. I see gold in the middle of a range, ultimately, I can see the trend shifting, but I usually don't trade betting on a trend...
Bearish butterfly scenarios peg 1560 and 1665 as potential reversal zones. In other words, completed patterns suggest lower from one of these levels; but not before a double-digit build-out from current levels. $GLD
Potential bigger bullish movement in area of angle b or c use the horisontal entry angle for pontential swing on a bigger move in Gold,,, I will record a video of this bigger move. and post a link below this chart.
Looking at the parabolic rise in 1980 and the huge cci spike, in comparison the 2011 peak is weak and not really parabolic, which is what Martin Armstrong has argued that Gold still has much farther to go on the upside.... $5000 area but first some more damage may occur, perhaps into the $1000 area or even touching the 1980 high. My own work called for...
$GC_F $GLD $GDX
Typical head and shoulders pattern breaking the neckline
This is a 3months H&S. Target 1180. Detailed commentary to follow.
Gold having a shs that - if activated - having a target of 1140,40. Strange to see that gold is hardly reacting all though market is very bullish today. Have to wait and let it show us the direction. As always... time will show. Safe trading gents! BM Music at work! www.youtube.com
as long 1280 holds as support and 1340 as resistance with neutral RSI and STOCH indicators there 'll be no big moves in #GOLD