Tuesday, September 27, 2011

Gold update

In the previous Gold post there was a view that a top in gold could be at hand, however, a slightly higher high formed before a significant decline occurred. The decline does not appear to be a 5 wave decline and indicates one more push up is now needed. The view is for a larger degree wave structure to form and with the MACD at an extreme for this thrust - it implies a wave 4 is unfolding (or has already completed). Charts in next post.

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