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