Interesting to see last time the price remained above 50 MA the Fund algos switched to buy mode and gold rallied $100 but did not manage to go above the 200 MA. No follow threw down we went. Now this IH&S projection/target is near $1550 and well above the 200 MA. Am expecting a big move up $100s in a short space of time as the Fund algos switch to buy mode.
Have added a speculative blue up fork, with no confirmation on lower parallel, so there is potential for a dip bellow $1300 to test the lower blue parallel, a bounce of that LP would validate my up fork and the IHS should then play out.
I cannot see gold managing to go lower than $1275 there is simply no physical gold left, in the Fractional Reserve System.. besides CME does not even guarantee that all the gold is their either, NY Fed hasn't got any because if it had it would not take 7 years to return Germany a small proportion of her own...
Have added a speculative blue up fork, with no confirmation on lower parallel, so there is potential for a dip bellow $1300 to test the lower blue parallel, a bounce of that LP would validate my up fork and the IHS should then play out.
I cannot see gold managing to go lower than $1275 there is simply no physical gold left, in the Fractional Reserve System.. besides CME does not even guarantee that all the gold is their either, NY Fed hasn't got any because if it had it would not take 7 years to return Germany a small proportion of her own...