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Thursday, December 19, 2013

Gold Trend Dec 20/2013

so, market stands on a road to 1180's. As we've suggested WPS1 was not able to hold market for a long time. As there are just few point till 1180, I suspect that market probably will make an attempt to touch it today.
On daily chart we have AB=CD and butterfly targets around 1180, no oversold:

On 4-hour chart we have another butterfly with 1.618 around 1275$. As move to 1.27 was really fast, this confirms that market probably will continue to 1.618

On hourly chart we also have this AB-CD with 1.618 around 1275 as well. Take a look how market response on all targets - 0.618, 1.0...

Thus, the last one subject for current week is 1275-1280. And then we will see, whether this will be just W&R or market really will hold below it.
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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. 
 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. 
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