InvestorsHub Logo

spivster

09/10/14 11:59 AM

#2202 RE: goforthebet #2201

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 :)