Gold

I personally wouldn't now consider going long on Gold until 1525. That's a really important support IMHO.

Jackozy wrote: I personally wouldn't now consider going long on Gold until 1525. That's a really important support IMHO.

Food for thoughts!

I wonder, would this make Gold a good candidate for a cheeky short?

I wont go long ether on gold as its clearly broken to the downside.Its broken the trend line with ease.
Theres no real strong support near by



This went straight through the 61.8 fib that supported this last time so id expect a full correction of 100% now.That level is 1527 so have your longs ready for a first attemt at 1527 with tight stops.

close up


dyor

This is currently finding support at the 123.60% extension of move from 1796 to 1672 = 1602. Could either bounce from here or plumb the depths... and I do mean the depths....way down....poss 1300.

fresnilo, rrs, pog all going down with this.

i am waiting to make a move on Fresnilo and will wait for the right time.

Gold is cyclical so its a matter of time i guess

I was looking at Gold & Silver last night and they both look pretty bearish. I didn't save the gold chart but silver is below:


dl.dropbox.com/u/24866576/February%20201...RS%20150213%20wk.gif

Wouldn't be surprised to see $19.50 an ounce to be honest! Might be enough of a reduction to allow me to buy one of these!

Enjoy the weekend all,
M.