When EU financial crisis settle down n no war in middle east ... Gold will fall.
Some how i agree, but my reason is they hold the price high so that they can liquidize it, after they have release the gold then they press it down. During this days I watch the gold market found that during our night time the gold move more active than day , so mean most of the time the western are play with it.
I take some time to compare US stock market vs GOLD found that gold will move fast and go high most of the time during US stock are weak. Surf into Forexpro web page study the GOLD intraday chart(10min), found that if gold keep move north at around 1674 will have some resistance, it just match to the reading from daily chart.
GOLD really that bad ? try to find it TC point found that another 2 more day should be it TC point don't tell me that gold will really touch 1588 ? If gold not able to hold firm above 1670 may turn south again. I am waiting for gold to break 1800 as it failed to break that level for twice (Nov 2011 & Feb 2012). Usually the third attempt will turn out to be successful (technical analysis - rectangle sideway pattern usually breaks out after the third touch).
When gold go south if able to hold above 1761 mean it still strong , go below 1747 beware .
May be use EW gold had complete A B C D E small wave, i had forgot how the wave count because I not use it for a long long time. One more interesting thing is QE3 was launched above the monthly alligator support line.
Saturday, March 17, 2012
