Monday, 15 April 2013

Gold and Emini S &P

 At last real progress on the downside and $1415 trades as i write in the mid morning european session on Monday 15th. $150 bucks is a big move and the trend is clealry gathering momentum. How far is this going to go? Well many are talking of $1000 and of course it's possible but i have my eyes peeled for first1369, then 1350 and perhaps around 1338  where we have major LMLP's from two up sloping forks. The Schiff fork in thin blue ( the upper smaller down sloping Schiff fork/see Esignal chart
below) was the support in 2011 and it's upper ML was the May high last year and its reaction lines have worked a treat. I expect another attempt at 1400 and perhaps soon...even as early as today.

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