Gold did bonk up against $1,154 late in the day, and then came back
down for a brief test. It would be ideal to now see gold test
$1,145 -- with perhaps even a brief dip under that level -- to fuel
a slingshot move right back up.
I'm now expecting either a 17-day or 21-day move up to $1,192 off
the recent bottom 9 trading days ago, which came around
$1,090. So that puts the target date for the end of this
current daily trend at either Monday April 19th, or Friday April
23rd.
There's a good chance that gold can make it up to the next interim
price target at $1,161 by the close of this week. That would
be a very solid weekly breakout, confirming that it's "game on" for
the hyper-growth phase.
I note that the last few trading sessions when gold has had its
biggest moves that the USD has been strong during the European
session and gold weak and as soon as the US session opens the USD
starts selling down and gold has spiked. Something not right here!
What is occurring is inverse to the norm where the US session
normally sees gold sold down. We also see gold spiking in US
session when Euro is weak. Any opinions out there about this?
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
Fractal Gold
Posted by ditch on 8th of Apr 2010 at 07:59 am
Some excerpts from Fractal Gold:
Gold did bonk up against $1,154 late in the day, and then came back down for a brief test. It would be ideal to now see gold test $1,145 -- with perhaps even a brief dip under that level -- to fuel a slingshot move right back up.
I'm now expecting either a 17-day or 21-day move up to $1,192 off the recent bottom 9 trading days ago, which came around $1,090. So that puts the target date for the end of this current daily trend at either Monday April 19th, or Friday April 23rd.
There's a good chance that gold can make it up to the next interim price target at $1,161 by the close of this week. That would be a very solid weekly breakout, confirming that it's "game on" for the hyper-growth phase.
Nice call
Posted by racerick on 8th of Apr 2010 at 09:02 am
I note that the last
Posted by phillw on 8th of Apr 2010 at 08:56 am
I note that the last few trading sessions when gold has had its biggest moves that the USD has been strong during the European session and gold weak and as soon as the US session opens the USD starts selling down and gold has spiked. Something not right here! What is occurring is inverse to the norm where the US session normally sees gold sold down. We also see gold spiking in US session when Euro is weak. Any opinions out there about this?