its risky to anticipate further qe, page-15

Before I make a T/A about I have always stated if I was trading gold it would be very short term time frame...

My view on longer term POG im neutral like most I want to see which way POG will break out of this wedge which IMO is neutral so neither bearish or bullish IMO...This is evident in gold stocks at the moment and why they have been sold down but have not recovered... markets are waiting for a clearer direction whether its to the upside or down..There is no doubt the trigger for a break out above would be QE3 a break below would be no QE3 continued deflation and collapse/break up of Eurozone which would see strength in the U.S dollar/bonds as a safe haven IMO..

In regards to my chart and T/A I see a wedge which has formed but it is neither bullish or bearish as it has not formed in a DOWNTREND or in middle of an UPTREND it has formed right at the top of an UPTREND.. So this could suggest a pause in movement while the market gets a better direction.. Its that simple and thats why POG has been very choppy of late in other words hedge funds/central banks etc etc have are playing the short term game buying in on the sell downs and shorting at the peaks, this is very evident.

MA's some of you keep pointing out the MA's. Depending on what MA you are talking about, but most are a lagging indicator they are NOT a lead signal indicator....

Conclusion- I think we'll get a clearer picture come August as POG will either break above or below and that might be the time the FED announce QE3 or don't...