Stock Incubator

[dalcindo]

Opinion: $GOLD to Hit $1,300:


GOLD:
Watch out for gold. Definitely at technical HIGH and significant OVERHEAD technical hurdles per $XAU (notice how WEEKLY and MONTHLY channels in $XAU charts are holding since 2009 and 2008 respectively - Technical Analysis is just beautiful.

Now, take a look at the MONTHLY $GOLD chart itself where I have laid down a PROJECTED Fibonacci grip. Per price patterns, all motions and consolidations have occurred at significant Fib levels.

Next? Extension of Fib at 161.8%, corresponding to about $1,302 - IMHO::


$XAU - 36-Month, WEEKLY Chart:



$XAU - 10-Year, MONTHLY Chart:



$GOLD - 20-Year, MONTHLY Chart:



- Dalcindo