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Gold 8h

I expected the gold to rise to middle blue line, it currently found support at the brown line, but it may still fall to the bottom blue support.

On the upside, there is a triangle that may be broken soon. If broken price may go crazy to ~1480 or even bit more.



Jim Rogers on UK

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Gold - buying on a dip

Hopefully now gold will once again rise :-)

Gold charts

Gold 1 day
There is no real change here, price target is very high - @ 1,470's.

Gold 4h
On 4h chart we see how the short term blue channel is broken (it is parallel to the blue channel in the daily chart), and currently the brown channel is in play. Target there is in low 1,430's. After that we will see "small" correction to 1,400's (currently is ~1,404). The "upper" blue line may act as support too, but at the time of the correction I believe it will be "lower" that the brown line (current projection is ~1,405).


Gold chart and so called H&S

First about so called H&S - Gold raised to 1396.60. This invalidate the H&S formation, because left peak was only to low 1380 area.

Currently the blue channel is in play. There are additional smaller channel in brown.

However, I am certain than those channels will be broken and price will go higher than the channel top, but there are no technical evidences for this scenario.