Wednesday, 14 December 2011

Gold..... a study in price weakness continued + the 'topping out' pattern...It's a beautiful thing!!

This is a spectacular fall. Gold has reached the second black mod Schiff centre line. The lower of the two price objectives (blue in metatrader below) at 1566.00
I cant think of any reason to buy Gold even here at 1565 a few hundred bucks below where we were a few days ago/last week however if I had to chose a point for a bounce it would be here BUT remember this pattern is not over yet and has further to go on the downside.

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