Tuesday, September 16, 2014

Gold Update

Gold is currently in a downtrend(daily).It is now recovering from an oversold condition and is forming, possibly, a bearish flag towards 1240-1245$.From there we see 2 possible scenarios:
A)(grey)Gold hits 1240-1245 and then falls towards 1190-1200$
B)(blue)Gold pierces the steep descending black trendline moving towards 1260 and then retracing again towards 1240.