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Re: goforthebet post# 2201

Wednesday, 09/10/2014 11:59:23 AM

Wednesday, September 10, 2014 11:59:23 AM

Post# of 19297
To answer your PM, I think it will see 1180 before 1400.
Gold chart is very bearish and a triple bottom is in the making. More often than not one sees usually a spike up after a triple bottom.
On the other hand, the triangle pennant is broken to the downside and usually, after a pennant, the trend before the pennant continues (this trend was downwards).
In other words: I don't know. But so far I'm bearish on gold short term. When or IF 1180 hits, I do foresee an upwards move which might go to 1400.
Just my take on it though. Purely based on the chart. Other chartists have other views I noticed. But the latest months I do have been more right then wrong with gold related matters. I hope it stays like this :)
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