Thursday, 15 March 2012

The man who- told them he thought Gold had further to fall!

With apologies to HM Bateman

Simple fork work here below:

and the more complicated picture below in 60 mins:

and 5 mins:

You can draw a perfect Andrews fork and watch for a failure at the CL which lies at about 1685-1690$.. I have my eyes on 1650 ( here) then 1661 to 1677 levels as well. All of these levels may present a short entry once confirmed . Until then i watch this recovery from the recent fall in horror as Gold's price correlation with the EURUSD pair has returned with a vengence....surely not a good sign.
1672$ level next to watch.

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