I commence with my gratitude to The All-Knower
On the right here, is a copy of the forecast from few weeks ago. Just today, I published an update for subscribers. See the excerpts from it and the current week forecast and It gives a longer term perspective of the gold and silver (thus of all precious metals.)
Hourly Chart Trade:
Gold has been rejected at the $ 1,662-$1,667 area
Break of $1,645 area shall trigger a sell off to $1,616 area
Break of $31.68 shall trigger a sell off
and then Silver shall be targeting for $29.90 area
Gold Daily Chart Analysis:
- Daily “Chart” tells a tale of short trade, which was triggered on the 03/01 or then on 03/09 and still in tact.
- Gold has broken below the 200 moving average at $1,675-$1,679 area. Was gold move and break below 200 MA a false move? I doesn’t seem that way. (Be careful for Mercury trickster period). Unless gold is in 4th complex wave and wants to make one last hurrah up.
- My proprietary and favorite trend setter “cross over” is still down and has not crossed over to the upside. But I ought to be cautious about the divergence that has started on the indicators
Gold Weekly Chart for better perspective:
TWO Things to Note on This Chart of Weekly Gold
1. Gold has broken below the red trend-line. Gold must stay below until it test the yellow trend-line for support at the level of $1,598 area
2. Momentum indicator is apporaching a level of reversal and that could coincide with the $1,598-$1,600 level area. see the attached chart iv
3. I potentially see a H&S which could be bullish and confirmation of Wave 4 being in process.
NEXT TIME CYCLE
03/22/2012 AM is a time cycle.
THE MOST ACCURATE FORECASTING OF FINANCIAL MARKETS
http://trade-in-harmony.blogspot.com/
Thanks. for sharing sir
Thanks for sharing your insights Mr Syed
I have stumbled upon your blog by Google search. I am glad, I had found it. It is my daily routine to see, if you have any thoughts on the markets. It is really very helpful.