Not long till we see some confirmation of either a break up or another leg down but if the head & shoulders pattern plays out then perhaps we see the upper regions of $20 - $21.
With the constant downward pressure the trend signalled a change as we broke the trend line. The selling pressure is yet to catch up with the move and we have now confirmed the divergence on the RSI indicating that the selling is now losing to the buyers.
My Thinking is that Gold has a major run with current financial uncertainty looming then we see some drawn out consolidation period as we transition back into traditional derivatives. For the short term its all about physical gold sales!
ere you can see we are currently looking at wave4 of an impulse drive, the mail launch within days will be the catalyst for the big push creating a new ATH. Well done all those who participated. . for those still waiting to jump back in you have little chance to buy a dip till we have completed wave 5 and look for an A,B,C correction.
