the alternative view on gold, page-9

If you are going to point to TA analysis try Clive Maund - he too puts in a point about Copper. He also wrote about the possibility of a "double top" on the 16th August so here is his latest from Sept 7:

Gold Market Update by Clive Maund


Maund believes there may be a correction and doesn't expect Gold to make the $1030USD mark just yet - but states that as long as the apex of the triangle still holds then Gold should break out to this mark.

Maund for my mind has more credibility - but then there are numerous TAs and TA interpretations.

I recall reading that some TA's have argued that the H&S pattern can't be one b/c it has to be 1 at the end of a trend down, when Gold was and is trending up. But then some argue that this pattern can also be a continuation/consolidation pattern. I think the purist TA's would argue the former rather than the later?

As to the double top - that has yet to play out and can only be confirmed after the event.

But then some TA's point to say this is Gold's 4th stab at it so this may be the one!

How many times did Gold have a stab at levels in other "00"'s?

And for a completely different picture on Gold try the Carolan Calender which states that gold in is certainly in sync with their solunar model and set to make new highs arounf the end of the month.


Note: The USD Index went below key support and Gold lead the way in currency markets



Disclaimer: "L" plate TA driver