XAUUSD - GOLD/U.S. Dollar has 10% upside in next 60 days

11 Ağu 2014

Gold has been going through cycles of capitulation and euphoria forever, but the past few cycles look interesting. Note each selloff looks like a disaster on the chart with "terminal" declines in 2 of the last 3 cases. The triangle breakdown this spring caused a healthy wipe-out of any tight stops and set the market up for a decent advance each time.

Time will tell - for now I don't have any fundamental reason for gold to go up but for now the chart seems "wiped out" enough for a rally to create a new pattern of "euphoria".

Tim 9:19PM EST 1307.48 -3.29 last Sunday, August 10, 2014