Gold Chart
The last two weeks of gold has given a triple top at 1258 --- the exact
price level that the last leg of this selloff began when we had a cycle
inversion two weeks ago. We have gone back and tested the low of
November and the ALL IMPORTANT 1222 area of support. The other
potential here is the purple channel lines. Today they are around
1195-1203 and if gold goes there we expect it to support at least
initially. A failure there and 1160-1172 and new yearly lows would be
the expectation.
Gold hourly price chart
It’s not out of the question that the 1220 area could hold as we have
channel lines that are from 205-2006 on the chart trying to hold
support and the 2011 downtrend channel also in that target area. If
the CONTROL BOYZ want to flush the few that are left, then these are
certainly the trend lines to go after. Should we get a penetration of
the lines the KEY IS GOING TO BE THE FOLLOWING WEEK and whether they
recover. The green channel line has only been VIOLATED ONCE – and that
was at the final three weeks of the 2008 crash low. Price did go below
the line but the wick or the stem of the bar touched that line in all
three weeks. Here we are again 62 months later testing the same trend
lines. If it gives way the weekly chart has support on the dotted trend
Fibonacci line at 1100 and the next white channel line near 1030-1040.
The weekly chart shows just how important this area is.
Gold weekly price chart
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1. Open your account HERE
2. Send me your MT4 trading account number and email address
3. Send me your Paypal or Moneybookers account number
If you do not have a Paypal or Moneybookers account,
please click on one of the links below to open your free account today.
Moneybookers
Paypal
You will be paid $10 per standard lot of Gold traded and
all payments will be made by the 25th of each month.
thelordoftruth@gmail.com
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YOU SHOULD NOT TAKE ANY MATERIAL posted on this BLOG AS RECOMMENDATIONS
TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED.
TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED.
Do your own due diligence.
No one knows tomorrow's price or circumstance.
I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader.
I do not accept responsibility for being incorrect in my speculations on market trend.
I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader.
I do not accept responsibility for being incorrect in my speculations on market trend.
King Regards
