Replies to post #38105 on GOLDBUGS AMEX Goldbugs Index (GOLD)

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Martin Armstrong: Gold Update

* December 22, 2016

What if Gold does not Close BELOW the 2015 closing of $1060.30?

This would warn that the intraday low could extend into 2018. Ideally, a close under 2015 for 2016 would most likely produce the 5 years down on a closing basis. Then the intraday would extend into 2017 and maybe this is all over at last.

A close above the 2015 close of $1060, leaves the door open for 2017/2018 and that would probably warn of a major thrust upward in the dollar. That could be inspired by the breakup of Europe. We also appear to be achieving a Yearly Bullish Reversal for the dollar against China's yuan.

We can see the technical support for the close lies at 1057 and the resistance is up at 1170.

The big issue remains the dollar.

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