Crude 2nd Round Decline Just Started

Unsurprisingly but expected, the crude is waiting the coming China's manufacturing data for the next direction, look at the chart is likely to drop further from here, supporting the break to the downside is the "Leaking" as chart above.

Technical Gold Bear Vs QE Hope

From technical standpoint, gold bear have to complete its cycle to extreme target $1360~$1370 not later than blue line as above which in simple word somewhere within 6 week from next week onward, it is something worth paying attention to weekly chart when the bearish nature of gold's technical are analyzed, the 2nd & 3rd fanline just perfectly serve as Gold's Descending Trend Channel, a strong downward momentum will started if Fed say no QE in coming FOMC.

Crude 2nd Round Decline Just Around The Corner

The crude seem to plunge more after World Bank cuts China 2012 growth outlook and Credit Suisse predicting that China's commodity-demand peak has passed, highlighting a structural decline in China's commodity demand. All in all, then and then, along with other commodities like Gold, the potential big all-in decline just around the corner.

Dead Gold Bound To Get Burned Soon

Considering how bad and scary look is the fact that its 150 DMA still remains below 200 DMA, the "dead cat bound" might count as the beginning of extreme bear warning likely continuation of the downtrend. The traditional safe haven status of Gold are likely to be shunned by investors then shifted to US dollar as occurred in 2008, it is a good reason now to run away from the burning Gold.

Gold Bear On The Table Now

As mentioned before and can be seen here, in looking at the daily chart above should Gold on track to its extreme target of $1360~$1370 very soon because it already break below its both parabolic support level and 2008 support trendline.

When crude started to weaken in early of May, it serve as a precursor for weakness to come in Gold, the timing of that call made note such a possibility to take Gold down to at least 150 DMA of weekly chart, perhaps the potential answer to this question brings us back to 2008 soon after.

Crude may drop pretty soon

As mentioned in previous post, crude may not able to make an U-turn, unless crude can reclaim and sustain above $105, otherwise any possibility decline below $102 would strongly signal to the downside, based on the bearish look daily chart of crude, it seem likely another leg down pretty soon.

Rising of the Gold Bear

Interestingly, in looking at the Gold weekly chart, there are some sideways trading been developed along 3rd fan line but still headed to the downside.

Supporting the downside is the fact that Gold's 150 DMA still remains below its 200 DMA, it has been tried very hard to climb and reclaim but fail, now its parabolic support just formed exactly at $1611, any price break below this level shall trigger a big move, likely to the extreme target of $1360~$1370.

DXY bottom just locked-in?

Just a day after FOMC statement, the DXY perfectly touch the trendline bottom, the beautiful holding of the bottom trendline suggesting that DXY now is ready to rocket higher from here, its near-term shall reverse back to the upside.

Crude may not able to make an U-turn?

After many days of trying to make an U-turn, unless crude can reclaim and sustain above $105, it is now at the crossroad while a possible decline below $102 would strongly signal to the downside

Gold weekly chart says something ahead

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Just look at the Gold weekly chart, after weeks of relatively unexciting sideways trading with continuation of the bearishly, with the rare "Death Cross" at daily chart, it seem ready to break with extreme target of $1360 ~ $1370. Yes, unless QE3 coming next week but the chart says Gold want to drop.

Rare Gold's "Death Cross"

The Gold's 150 DMA move below 200 DMA forming the rare "Death Cross" as above, it is something to suggest that gold shall drop hard from here, such a possibility supported by the same chart pattern where the "Death Cross" formed before massive drop in 2008 below.

This "Death Cross" usually serve as fact that it has been unable to reclaim its important 150 DMA, thus gold is looking so bad and most likely it will follow the history.

Gold at the crossroad now (Corrected)

Look at the Gold daily chart, it going up for few days then suddenly turn very bearish after fail to penetrate its parabolic, it seem waiting the Fed for the next direction, the downtrend may started if there is no QE3, the 1st support will be at $1612, 2nd at $1502, whereas, if QE3 coming, it will rocket higher from here, Gold is at the crossroad now.

Crude Trying to Make an U-Turn

Let look at the crude daily chart, after it fall and found a support at around $100.75, now it trying to make an U-turn to the upside again.

Gold Bull Coming Back

As I mentioned before, the cycle already completed and its near-term was turning up, it up more than $30 overnight, Gold's bull to take off from now on until reach the top.

DXY set to drop ?

Look at the DXY's hourly chart, it seem to drop after weak US job's report, the chart look bad and more bearish after rally last week.

Such a possibility is supported by the daily chart, DXY fail to stay above 80, so something that provide a reason to think it will break to the downside again.

Gold bottom already locked-in last wednesday

The Gold bottom seem has locked in @ USD1611 last week, sorry to informed that it wont going down anymore because its cycle already completed, now its near-term will turning up from today onward.

Gold Call for Final Dip

Gold was drop and touch USD1611 then rebound back a bit, now it calling the final dip to somewhere around USD1604 to complete its cycle.

Gold come to the final week

The gold was plunge more than USD40 over night into its parabolic trend channel, now it shall headed toward its final destination (USD1604) within this week or latest next monday because it should complete its cycle first before next rally.

DXY bullish to take place next week?

Based on the DXY daily chart, is the fact that its soft landing just above the Aug2011 support trendline, the DXY bullish likely to take place next week whereas Gold look the most vulnerable to the downside.

Tired Crude Vs Gold

As I mentioned in previous post, the crude is too tired to climb and hold again, now it started set to drop from here, crude will break as it already going too far since early of Feb12, thus gold will follow too.

Gold drop back and to complete its trend cycle soon

As I mentioned in last post, gold ready to drop back into its parabolic trend channel, it done already. Now gold shall continue its trend down to around USD1604 before the next rally and it will come in play otherwise the rules will break.

Gold was went extreme but ready to drop again

Interestingly, gold was went extreme and penetrate a bit the upper parabolic trend channel, it is very unlikely to go up further unless US economy crash over night, thus gold to drop from here into its parabolic trend channel again to somewhere around USD1604.

Gold to struggling hard before bottomed

Let look at the 4 hourly chart, gold was struggling hard to climb back up, most likely will go parabolic move as picture above.

Gold will drop very soon!!

Let look at the 4 hourly chart, gold was reaching at the edge of a cliff , it shall drop from here very soon, then and then, gold still says USD1604.
 

Strong Dollar Vs Gold

Let look at the 5 hourly DXY, it going to hold firmly since correction on 16/3/12, so it will rebound from here? as long as it can hold...

But let look at the daily chart, seem very firm and shall continue its way up again?
It is more likely gold to pull down more as DXY's near-term is turning up.

Tired crude to pull gold down?

Since crude did climb up like " mission impossible" early of Feb12, now it seem too tired to climb again and hold, so it suppose to drop from here and rest for a while, thus gold to drop together before next rally. 

Gold Price to be bottomed soon (Corrected)

 Gold price will be bottomed as low as USD 1604, then gold will get free and turning up to certain level before down again.