Tuesday, December 18, 2012

Gold comments

$GOLD - Chart Link - as you know, gold is down big today, -$29 currently.  Per my weekend analysis, here's the symmetry chart (please be aware this chart still shows yesterday's closing prices).  Gold is currently trading at 1670, so it's just above above all these moving averages.  Also refer to the time frame of this consolidation, it's 16 months, the other two lasted 16.5 months and 17.5 months.  Will the MA's hold or not?

$GOLD - Chart Link - anther daily gold chart with the wave count that I've been showing, as I have been discussing, if this is a wave (2) and wave C, then we can expect the Nov low to be undercut at least slightly

GLD - Chart Link - here's the ETF, steve made this chart up, shows a symmetry projection to the downside

remember the gold charts at Stockcharts don't update until well after the market close.

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