Gold charts after GS.

After SEC accuses Goldman Sachs of civil fraud , shares thumble. Gold followed. We will see if this will be the so called second dip of the crysis, or is just a buying opportunity.

Here are latest gold analysis:

1 week:

Upper channel is clearly seen, from this chart we can not be sure if trend is up or down, but if is down, target will be ~1100.

1 day:

Another upper channel, and the price already declined from upper boundary. Now we will see drop to lower boundary (support). Note lower boundary is same as the lower boundary (support) from 1 week chart.

4h:

nothing interesting here, just some trendlines. Blue line is estimated support from daily and weekly charts.