Fight between Bull and Bear

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 short-term-gold

SHORT TERM GOLD

This week forecast: I expect an impending reversal for gold and silver this week any time from Wednesday to Friday. Price level to take profit for gold is around 1337-1345 and for silver is between 22.21-22.61. Place a tight profit stop.

March to May/June

If it continues to stay above 1270, there is a reasonable chance for gold to reach 1425 by May 23rd.

If 1270 can’t hold, there is a very strong chance for gold to hit lower either at 1180 or 1089 by May 23rd.

June/July onwards

Bull may take over completely and fully in control no matter where it takes off (either 1089 or 1360/1270 (as indicated in Green of the above chart)

LONG TERM GOLD CHART – MONTHLY CHART
long-term-gold

Comment: 50 MONTHS MA is the critical resistance which is 1425

long-term-gold-2

 Comment: There is still a reasonable chance for baby gold bull to drop to 1000-1089. In any case, by June/July 2014, baby gold bull will grow from strength to strength.

 

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