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.
no coming QE3,hope can see gold drop to 1360-1370 in coming 5 weeks more, but gold still stand above 1600..
ReplyDelete3 week more..hope can see 1360..but now gold still stand above 1600
ReplyDelete