2009-10-08

Couple of gold charts

Weekly - Gold retrospection:Explanations - tomorrow :-)

Daily - the massive triangle: The triangle was broken, also there was kind of test of the rising channel (brown)

4 hours:The rising channel "out" of the triangle. Channel is broken at the top, but I do not think this is so important, and probably gold will fall to the bottom. See 30 min chart.

30 min Probably a bearish wedge forming. Target will be "middle" of the 4h channel ($1,018 area) or the bottom - $990-1,000 area

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