Saturday, September 1, 2012

Gold chart update

Gold chart update (notice that my earlier post on Gold focuses on a 4000 target!)
Current pattern ;
1) Confirmed long base pattern
2) Confirmed higher lows (see blue arrows)
3) Current resistance ; broken
4) Next quick target ; see purple arrow

1 comment:

Anonymous said...

Thank you for your analysis. I was about to ask your thoughts on Gold and Silver. What do you think about Silver? Is Silver better than Gold to invest? Do you expect a little pull back for Gold/Silver next week? I missed the Gold/Silver bus while I was focusing on VXX. =( Just catch the bus on Tuesday or wait for the dust to be cleaned (Pullback)?

It seems VXX buying signal still valid. May I ask your insight over the next week and October? If VXX goes up then Gold should donw, right? Thank you for your sharing.