7th November - Gold has gone
10 November 2014
TECHNICALS:
WEEKLY continuation chart
Gold has just completed a massive bear triangle in the weekly chart.
Last month’s weekly close cemented the bear implications of the pattern, with a minimum move projected down as far as 925 minimum- unless the 1179/81 resistance at the bottom of the triangle can be overcome soon.
Daily chart
Today’s spectacular key day reversal in high volume will have given harassed bulls a glimmer of hope.
But note well the horizontal resistances from December 2013 and early October 2014.
And the horizontal from the low in June 2013.
So the resultant band of resistance 1185/1208. Needs to be convincingly broken for the bears to worry.
Until then stay short!
Next story:
14th November - Oil set to follow Gold much lower 
Previous story:
30th October - How far can the Dollar go ?