Friday, 19 March 2010

Gold short term price forecast update

Updating my previous guess at the short term direction of US$ gold here, I check on the $GOLD chart a moment ago and see a potential head and shoulders, which if it does play out (a break below $1100) could project a decline to around the $1060, perhaps $1030, or so area. A break above $1130 would probably be sufficient to invalidate this pattern I guess.

But what would I know?

4 comments:

Dave said...

You "gold bugs" will never understand. Gold has been manipulated for years. It will never be allowed to trade freely. It ewill be capped at 1,100 to 1,250 forever.

DP said...

Dave, thank you for your feedback, and I sincerely hope you are right. :-)

DP said...

Dave, thank you for your feedback, and I sincerely hope you are right. :-)

Dave said...

You "gold bugs" will never understand. Gold has been manipulated for years. It will never be allowed to trade freely. It ewill be capped at 1,100 to 1,250 forever.

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