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?

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