Monday, 17 June 2013

Gold update

Hi Traders,

Gold seems to be close to the target at 1321.6-1308. If it bounces back on that support there could be a $200 pull back or even the start of a new major uptrend.


4-hour chart and 1-hour chart:

Gold - now at 1390 - is climbing to the area 1392.6-1392.4 and maybe to 1400-1401.6.

Daily chart:

Then it should resume the very last downtrend to the area 1321.6-1308 (daily chart) where it would complete a major a-b-c.

The daily chart shows the 5 waves that forms major wave c as well as the target in the area 1321.6-1308.6.

This low should be followed by a first rally to 1553.7 and the area at 1616.7-1630.1.

weekly chart - click to enlarge

daily chart - click to enlarge

4-hour chart - click to enlarge

1-hour chart - click to enlarge

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