Change-In-Trend

with Anthony, ZigZag & Platy

Gold Update

Is gold set to rise over the next 2-3 weeks. Well my analysis says that it is. We have now broken above the mid pitchfork line and trading in a channel. We are set to test the upper line of this channel within the next day or two before declining sharply into the 12/13 Sep and then catapult to highs in the 192 to 199 range. This would be supportive of further dollar weakness that i have posted here https://changeintrend.wordpress.com/2012/09/08/melt-up/ which is trading in a steep downwards sloping channel. The 3 day stochastic is in an overbought area and the Gold and Silver Index gapped up over the upper volatility band. A small range day with a higher close is likely to present a decent short for very short term traders, for others waiting for a low in the 173 area would present as a decent buy.

Notice also that a high is in conjunction with Platys astrological analysis of 9/20/12: Jupiter-Venus Conj 18°. The last conjunction of this type caused a 1 day drop of 3.43% before a slight pause in mid March and the continuation of the drop into mid May.

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7 comments on “Gold Update

  1. Apprentice
    September 16, 2012

    192.8 reached. looks like it’s going to hit your 2nd target @ 20th.

  2. Anthony Tudela
    September 14, 2012

    Gold bounced at support 1 tick higher than the support line at 173.50. Look at blue horizontal lines for next targets

    Thanks
    Anthony

  3. Pingback: Executive Summary 13 Sep 2012 « Change-In-Trend

  4. Apprentice
    September 14, 2012

    Anthony, you nailed it again.
    mad props

  5. Anthony Tudela
    September 11, 2012

    Hi quy,

    welcome to Change In Trend

  6. quynhunguyen
    September 11, 2012

    I’m new & very thankful for your posts.

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This entry was posted on September 10, 2012 by .

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