Short term cycles have bottomed but longer term cycles remain in limbo. Here’s what to look for.
Gold is now testing support in the 1200-1210 area after breaking down from a triangle pattern. Such breaks are usually bearish.
Gold has broken down from a triangle pattern.
Just a quick update this morning. The next complete report will be posted on Wednesday morning. Have a great holiday! Please be sure to visit New Jersey State Parks and say hello to Governor Christie.
Short term cycles are due to bottom now at a projection of 1230. But what happens if support breaks?
The price of gold could remain rangebound or in a correction into year end, when the 9-12 month cycle is next due to turn up. Here’s what to look for that might change the outlook.
Gold failed to break out of its trading range last week in spite of swing cycles being in gear to the upside. Here’s what to expect next.
Key swing cycles appear to have gotten in gear for gold, giving it a short window of opportunity.
Gold still needs to clear resistance for a clear signal that it is headed higher over the intermediate term. Here’s the level you need to watch, and projections if surpassed.
Gold needs to clear 1265 for a clear signal that it has broken out of its 13 week cycle sideways down phase. If that happens then there are a couple of obvious, higher targets.