Monday, September 18, 2017 6:18:34 PM
gold chart....
From the peak at 1362,its looking like the beginning of the downwave. today is targeting the 1300 area, the bounce now back to retest the resistance roll over zone (1320-1336 area, should get capped there and roll over and begin another downwave to test 1300 , and failing there falls to test 1280 area, bouncing there back to retest the rollover zone to fail again around 1320 area, falls again to fail at 1300 again, targets 1280-1260 area, Bounces again, to fail at 1300, and then the downwave continues to pursue that 100 dollar move to reach the 1230 target zone. 1230-1200 target zone, this bouncing down pattern could take the rest of the year, or maybe as early as November to retest the 1200 target zone. and 2017 finishes with gold looking closer to 1200 than 1400.
IF the cartel did not cap and suppress this rally, then the technical moves were looking at a target way up at 1460-1560 area. 1484 /1492,on the Fibonacci math charts. 1500 area. so that's just not kosher for the Cartel in my view of the current situation.
Key price points in the downwave pattern to demonstrate,are the resistance zone 1325/1330 area, the support at 1300-1310 area (which should later fail) the 1280 support zone that should bounce and later fail. the retesting of the 1320 rollover zone that should cap and send the downwave down, the 1300 support that could hold for a moment and then Fail, and then 1280 falls to 1260/1250 and then the bounce fails at 1300 again, fails at 1280 and then the downwave targets 1230/1225 area and then possibly holds there or continues down to test 1200 and the 1200 target could hold or else more rolling over after a small bounce to test 1260 area, then more downwave to retest 1200 and lower targets into 2018. actually the downwave structure stretches thru 2017 into early months of 2018. before the 1180 bottom holds.
The weekly chart ,without any drawing, shows the 200ma at the 1230 target zone. I think it will become an automatic target, the perfect 100 dollar move from the rollover resistance at 1330 to 1230. might take a few months to get there. depending on how urgent the game is. and the end of year could stretch the downwave to 1180 .
From the peak at 1362,its looking like the beginning of the downwave. today is targeting the 1300 area, the bounce now back to retest the resistance roll over zone (1320-1336 area, should get capped there and roll over and begin another downwave to test 1300 , and failing there falls to test 1280 area, bouncing there back to retest the rollover zone to fail again around 1320 area, falls again to fail at 1300 again, targets 1280-1260 area, Bounces again, to fail at 1300, and then the downwave continues to pursue that 100 dollar move to reach the 1230 target zone. 1230-1200 target zone, this bouncing down pattern could take the rest of the year, or maybe as early as November to retest the 1200 target zone. and 2017 finishes with gold looking closer to 1200 than 1400.
IF the cartel did not cap and suppress this rally, then the technical moves were looking at a target way up at 1460-1560 area. 1484 /1492,on the Fibonacci math charts. 1500 area. so that's just not kosher for the Cartel in my view of the current situation.
Key price points in the downwave pattern to demonstrate,are the resistance zone 1325/1330 area, the support at 1300-1310 area (which should later fail) the 1280 support zone that should bounce and later fail. the retesting of the 1320 rollover zone that should cap and send the downwave down, the 1300 support that could hold for a moment and then Fail, and then 1280 falls to 1260/1250 and then the bounce fails at 1300 again, fails at 1280 and then the downwave targets 1230/1225 area and then possibly holds there or continues down to test 1200 and the 1200 target could hold or else more rolling over after a small bounce to test 1260 area, then more downwave to retest 1200 and lower targets into 2018. actually the downwave structure stretches thru 2017 into early months of 2018. before the 1180 bottom holds.
The weekly chart ,without any drawing, shows the 200ma at the 1230 target zone. I think it will become an automatic target, the perfect 100 dollar move from the rollover resistance at 1330 to 1230. might take a few months to get there. depending on how urgent the game is. and the end of year could stretch the downwave to 1180 .
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