Where should the GOLD head to ? I believe sure some group of people in this world they knew it cos they are the market maker.
From TC study around 2 more trading day will have a TC point, if from the chart show it should hold at around 1322 , because at that price traders may cover short and some traders will also long at previous low as a support, if the big boy going to trap those traders they may press down the price to 1258 as shown(blue arrow), if when really reach 1258 will cos people got panic then panic selling may happen so will it press the gold down to around 1156 ?
Human are very very funny !!! During yr 2011 after Oct we able to read many report and article about GOLD said that gold will move up again ,will go above 2000 , even during mid yr 2012 still people said GOLD sure will move up again .
Now we see GOLD had drop to about 1320 start to see people said the fall has not complete yet. hehehe.
It only proven that u will become right by going against the crowd.
learn a painful lesson to join the crowd in November 2011 when everybody was bullish. Peter Schiff said "the entire world is buying gold" in November 2011.
Read from the chart have a feel that GOLD should have a big action , move to north or to south still not able to figure out yet .
Ok make it this way if it able to move firm above 1388.7 GOLD have good chance to go north if go below 1384 it may go bearish.
The above was my 2 cents view only don't use it as a trading guide.
Sunday, May 19, 2013
