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Gold: What will happen first, or at all?
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1750 before we see 1450
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1450 before 1750
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Below 1400 this year
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Above 1800 this year
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This thread was started in response to the Poll:
Is gold's secular bull market about to end?
Gold could well be completing its first losing year since 2000. The yellow metal is no longer advancing on Eurozone woes, while rallying hesistantly during any hints of QE3. Is gold's secular bull market about to end?
q 3 second round on the way
2013 year i see gold near 1356
Seasonally this is a very strong time of the year, election is over and QE is continuing. A meltdown in the S and P will slow it down, but not stop it.
there is still some downside on gold for the coming week where it will gain its support for rebound at the 1750 mark. the reading of two hours charts is showing the same downtrend after this week rebound. my objective of 1670 is reached last friday and i revised to the down side 1750 my projections.
if sp hasnt reached yet the support of 1397 or maybe the support is for 1404, change your strategy by going long sp and eurodollar. if for the moment Banking union is at the helm of the discussion then might come the capital replenishment that is bullish for euro on a fundamental basis.
as for gold the reach of 1700 and below might signal dome further selling pressure but it intends to go up in the coming weeks. at 1900 we have a double top. at this stage the rsi might shownot a higher high while the market might break above the 1900 level to 1923.
The reason for this is it looks to me that in trying to prevent a bad recession for a couple of years Ben Bernanke has got his come uppance at last and his QE (TITANIC) strategy is about to kill the market. BUYING UP BONDS REDUCES LIQUIDITY and benny boy has been buying one too many.
THAT IN MIND BEFORE YOU SELL ANYTHING SOME FEEDBACK ON MY TRADING STRATEGY WOULD BE APPRECIATED.
BUY GOLD - SELL STOCKS (WAS THE OPPOSITE TILL A COUPLE OF WEEKS AGO)
AND FOR ALL YOU GOLDBUGS
BUY SILVER - SELL GOLD TILL GOLD 1800 (IF IT EVER HAPPENS AGAIN) THEN FLIP THEM ROUND
all the inflationnary policy will create loss of value in currency, a near currency war that will propell the value of gold to its all time high. a dislocation can be overseen with eurodollars.
Trend. Exhibits Strength in European Sessions. Technically very strong. Only a Romney Victory and a new Fed would change my vote
Gold mathmatically looks difficult to invest at these levels (17 dollar gain for 1%) hence such high interest in silver which is why I feel at best gold can plateau or be range (this years) bound but were it not to finish above January high 1762 we could see gold below 1525 next year.
It would make a fine indicator of how naive bernanke is as we are faced to confront the fact that to prevent a 3 - 5 year recession you have to create another great depression