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Looking at 1290-1300.
Make or break end of Jan / early Feb
Still maintaining my 2012 price target call of over $6 for 2014.
Break out of long term resistance could trigger a massive rally to long term weekly resistance of just over $6
I think a break fast 4.35 could trigger a break out to $6.50
Could be very bad...but with debt ceiling...I would place my bet on this squeezing up and out of the resistance, will look for that magical doji that's been right on the money for direction changes this year.
$5 - $6.30 top of resistance price target in 2014
If 1320 fails, looking like 1050-1100
The great currency reset is coming soon....be ready for gold to head much higher very quickly.
Let me know if this makes sense....
I haven't done a chart for a while, had to wait and see how it played out before I could decipher a pattern. The daily has turned into a squeeze watch now that the support line has been confirmed for a third time . Support line held nicely today and is forming a nice hammer on the daily. Have to wait and see how it plays out, this could squeeze any time ...
RSI is finally breaking out over Nov/Dec 2012 long term resistance line....If the MACD breaks out of long term resistance from Nov/Dec 2012 we could see a possible break out of daily downward resistance channel...going to know in the next few days if this is real or not...RSI saying it looks good!
Looks like a break out forming off long term support in 2012....still long term multi year resistance still to break at about $6 - $6.50, look for $5.07 short term GAP fill, today it already started to fill at 4.62 up to 4.64 close - next major GAP to fill is 5.40 to 5.78 . . . Looking for end of year push past 5.78? Q3 will tell us the answer.
Needs to break resistance....or it's heading down to 1100 or lower....
Needs to break through, long term resistance line could be tested this year...watch for break out above it this year maybe?
Almost looks 3D, finally a decent gold pattern has presented itself to me via RSI...
If it follows this, we could see a run once it bounces off the line once again?
Notice MACD support meeting at same time as the end of bull flag....also stochastic will be at bottom 20 line. Volume dying down, classic bull flag setup. Looking for a short squeeze, 18% of float betting against AMD....MM's will most likely squeeze them out.
Long live the Gold rush!
2 major bullish signals here.
1 - Cup and handle breakout.
2 - Handle is forming bullish continuation flag
Very bullish on PAL from here. News will come next week.
Target minimum of 1.35 x 1.36