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Wednesday, September 11, 2013

Gold what's next??

I never expected gold above 32,500. Since June-July I am giving regular updates on my blog on a special request. After formation of a  expanding triangle, gold had reached 34,500 testing a new height. After a breakout of 32,500. The sustainability was not seen , after a negative reversal gold reached its climax; starting a correction.



Know we have a question where do gold find its support. Currently we have 2 major supports and 2 trend-lines. But 30,000(50%; fib) is found to be next level, if it fail. We can see gold 27,800-28,000 as a powerful support.


 Fibonacci levels


Major SAR
Gold can be a good investment if we witness any reversal at 30,000 levels. We may see gold again touching 34,500/ testing new heights.

To read previous article on Gold: Click here