GOLD Prices Weaken Again
GOLD: A FALLING MARKET
GOLD is a Commodity, not a store of value as most would think.
Because of that basic, underlying fact, Gold is subject to the major commodity cycles of all commodities.
The basic cycle now is that Gold has just come off from an approximate 30-year cycle High a few years back (1980-2011).
The downward to sideways price cycle is inclined to last years more despite all the logical reasons for expecting the opposite.
Presently, Gold has hit a reflective resistance price point and is bouncing downwards towards it’s next low.
If you wish to have a little more insight, please join, become a member and view the expanded chart below on this page.
It’s FREE to join with no obligations or spammy solicitations to harass you. That’s not the mission here.
My goal is to impart a sense of ORDER to the markets instead of the one of chaos and fear which work against the trader and investor and are prevalent in our present times.
If I can impart what I’ve learned to you so that you can go on to greater success and understanding, then, my goal has been met. I know this isn’t for everyone. In fact, it will be a very small number who wish to KNOW rather than REACT to market news and propaganda.
As in most things in Life, those who take responsibility for their actions and for growing their skills are the ones who will ‘magically’ get further ahead.
[private_WD GANN TRADING SECRETS GROUP]
To continue the chart above, I call attention to the red arrowed descending line that’s been added to the chart to the left.This line represents a high probability sense of the momentum behind the recent drop in Gold prices.
This angle of descent will take us to an end of month level of $1270 for Gold, but, prices could easily be much lower than this should this weakening market continue.
Eyes on the downside potential are wise, however, one must allow for the element of a surprise shift in price trend and, I’d be more inclined to be convinced of a shift upwards if Gold prices could rise not only above the red line shown on a closing basis, but, more convincingly, if prices could close above $1335. Only then should one consider that another surge upwards was possible. – George
[/private_WD GANN TRADING SECRETS GROUP]
If you’re not a member, JOIN HERE to read the reports. Members have full access.