Gold

Libero,

Here's my 'two-penny-worth'. Now the labeling is done this way to appease Jackozy: cos he loves numbers and not letters But it fits, at the moment: the (i) and (ii) reflect the necessary fight between the two waves; the over-sold RSI is what one would expect from a wave (iii; wave (iv) made 38.2% of wave (iii)but not 50%; the projected wave (v)at 1041 would be duplicating wave (i) and is adjacent to existing support at 1044 and 1032.

All that said, this maybe just the conclusion of a wave A, with a B and C to follow. Time will tell.....

dl.dropboxusercontent.com/u/7238706/Gold%20Ounce%20USD.png

Still see further weakness in gold, ideally would like to see this test 1150/1130 range, perhaps Pri A to complete around there, next level below that then 1050/950 level.

short-term 1221, 34, 52 bounce area, before heading lower, buying opp come feb/march 14 ?




dl.dropboxusercontent.com/u/40497882/Gold_weekly_Dec13.JPG

rgds,

WS

Agree with that too WS. In fact, here's a daily showing the shorter term downtrend resistance is right at that key 1223 level:



dl.dropboxusercontent.com/u/20815047/FTS...olddaily29_12_13.png

PS Nice update to your avatar LOL!

Thanks Jacko, yes rocket in midflight now lol, like the indices

gold dumping now as expected.

1186/87 break below will now open up 1151/3 > 1146 . short term.


WS

Gold is looking bullish now after what might have been a double bottom in the 1180/2 area as it's got an RSI breakout:



dl.dropboxusercontent.com/u/20815047/FTS...olddaily05_01_14.png

As with the post on KAZ, it's worth waiting for it to form an initial high and a higher low (perhaps on an RSI trendline backtest) and then buy the breakout.