123Tom's TA study group

[123tom]

Spot Gold chart

Gold looks like its setting up to bounce from this bottom zone. The Stockcharts data is trying to say it bottomed at 1180 yesterday, but Kitco had it at 1170, and china market looks to have hit 1160. so the deception game is happening. Im measuring the math from a 1170 low for the moment. and its looking like a rally has that typical 100 dollar move coming. . Resistance starts at 1200 and 1210/1220/1235 area, on toward the 1270/1280 target zone.

but as an investment I;m not trading this, just to make a few hundred dollars , this is a buy(low) and hold for the currency reset megabucks extravaganza.

1170 gold bottom zone/or is it 1160

ok. bottom today at 1167
so far.