Thursday, September 1, 2011

Gold - Is the top in?

For those that have been following along, a significant top in Gold has been expected and the question now is: Is the top in?

It appears a  5 wave decline from the "Top" has occurred and more aggressive downside action needs to occur soon, thus completing wave '2' up. The long term chart is here and provides a multi year view. As you can see, gold broke above the top  multi-year trend channel and instability quickly set in with a $200 decline - however, Gold is yet to drop back down to that trendline. This is anticipated very soon.

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