If this gold's 60 months cycle doesn't bring people to lose money, gold is very likely to shoot up very fast again soon. U.S.A. is very likely to increase its debt ceiling to prevent a default. Once they do that, gold and silver should continue shooting up at even faster speed.
USD is weakening now, Euro and Aussie are strengthening. Before it able to stand above 1320 firm then 1346 should say still early to able to shoot up .But i sense something is going on behind the scene, the physical demand is shooting up very fast based on fundamental analysis. I dunno if the white man will short paper gold together with other big banks again this time.
If this time gold really continues to shoot up, it probably will shoot to very very high in a short period of time. Last 3 days, news came out that Chinese government said they are very fed up with the way the American government managing their debt. And also hinted they probably will slowly reduce their purchase of U.S. bond. This is not a good sign for U.S. dollar, and a good sign for gold and silver. In the world of internet there are so many article about GOLD which to follow , which to believe , which one is the most trusted ? Chart & number never lie. Gold has been going down, volume and open interest are also low, it could be a sign that it has bottomed.
China now has more billionaire than ever, means chinese purchasing power is increasing, they will buy more gold. Indian rupee is also strengthening, Indian will buy gold also.
Gold is preparing for a bear market rally based on Trend Following's MACD.
Resistances are the yellow and red moving averages.
Note: day chart is in USD/oz format. If GOLD able to break up above 1292 will have big action to north else may deep further south.
Now at short term TC of high it might move down first yet before it able to go above 1346 important Auto R/S say any north action is still too early. Look like I am the only one dont know how to read USD index , cos i really dont know why have USD index and also how the USD Index was calculated. Gold from TC study it should have reach TC of high, from support and resistance at 1359 will be it resistance point , refer to it previous nearest high 1350 was it the point.
Trend following ! now what is the trend of GOLD up or down trend ? which article able to tell me what trend now if follow the trend following strategies ?
If use TC study I think is much easy to apply on to trend following strategies ,why ? just because when during TC price will drop so is down trend we just follow the trend.
Friday, October 18, 2013
