Gold Update From Singapore

Gold rallied nicely and stopped at the target resistance we had at the Weekly Bullish Reversals. Right now, support begins at 1755. This is the first MINOR Daily Bearish Reversal. A close below this will shift the momentum in gold back to a neutral position. There is no indication of a actual breakout to the upside just yet. We have to see a weekly closing above 1800 level to retest the former high. The timing still appears to be next year for a resumption of any trend to the upside at the minimum. It is 2014 that appears to be the beginning of a rise in geopolitical tensions as well as civil unrest. As stated, there is just no plan whatsoever to alter the course of nations. Politicians are deaf, dumb, and blind to the trend ion motion and keep assuming that somehow a miracle will take place and it will all go back to business as usual as the national debt reaches $26 trillion in 10 years.

 

Advertisements

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s