Saturday, March 22, 2014

A POSSIBLE PATHWAY FOR GOLD

Zooming in a previous chart of gold(http://goldenopportunitytrading.blogspot.co.uk/2014/03/weekly-gold.html).

If gold breaks the trendline from Dec2013 on Monday,next stop will probably be 1285$(50% retracement of the upmove from Dec2013) .
Assuming that resistance at 1285 holds, then a right shoulder of an Inverted Head and Shoulders pattern will be formed.
From there next target will be 1453$ and then 1555$