Gold price, page-1649

It's amazing how similar the chart pattern is on the weekly when you compare the period right before they raised in December and there period we're in now, with a raise rise looming.

I'm no chartist, but I wonder if (assuming they raise rates), we might see the weekly form into a ''bowl'' like structure like it did in December and then have a huge rally upwards.

If that's the case then we'll probably touch 1180 on the downside. I have been fairly impressed by the strong support that the 1200 level has shown. I'd imagine that Comex will have another crack at forcing the price below $1200 tonight.

@V* - Perhaps you could comment on this, and thanks for your charts and posts.

Admittedly, I spend zero time on charts and truthfully I have no business commenting on them.

Cheers
Ivan