Uptrend Channels Resolve DOWN!
Gold is in an overbought condition
above the Top Line of the
BLACK MAJOR DOWNTREND CHANNEL
which Resolves UP!
Gold could have a correction at this level.
Every time in the last four years that I have believed
WITHOUT A DOUBT that gold was going to the moon.
IT CORRECTED BIG TIME and WIPED ME OUT when
I thought I had enough funds to weather a big dip.
Once again, I believe gold could run up big time from here.
So let's all be very careful without sacrificing being on board
if it does continue higher.
The FACT that gold has already seen, and crossed, both
900 and 1000, will make them less a problem to cross in
the future, It's the 100 dollar increments above 1000 that
have never been touched that will offer more resistance.
But by then, the World's economic conditions should be so
bad, that it probably won't matter as everyone is fleeing to
the "ONLY" REAL MONEY left on the planet.