I see the price action of Gold continuing to compressing through the remainder of 2014. I am testing a method of so called magnetic points by creating a grid. According to this chart as gold remains under 1247 there are several points of interest to monitor. Price appears to complete compression by December 15/16 where we could see a strong move to either side. One other point of interest is a possible retest of the October low mark of $1,190 which according to the chart could take place in the time frame of November 5/6.
Update: January 8, 2015
Price is pushing against 2.618 resistance these last few days. Breakout to follow soon? Or perhaps pressure downward toward the 5.0 deviation would be more suitable considering the bullish nature of recent stock markets?
Stockman
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LMAO, Right on red....left hand on green......annnnnd spin again, this chart is a complete disaster like a Pollock painting.
cooney_s
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I absolutely love your reply. So what else do you have to offer? Anything?
cooney_s
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yeah Stockman, a "complete disaster" haaaaaa. Looks like it turned out as suggested so far. And yet the one and only chart you offered was full of arrogance, lacked any sense of ingenuity and was THE actual disaster.
Price is pushing against 2.618 resistance these last few days. Breakout to follow soon? Or perhaps pressure downward toward the 5.0 deviation would be more suitable considering the bullish nature of recent stock markets?