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|Subject: Re: Gold - Updated TA||Date: 8/19/2012 6:43 PM|
|Author: CM001||Number: 41156 of 41308|
Any updated thoughts on Gold. The ascending triangle and the secular bull of last 3 or 5 year period is gone and we are now in sideways consolidation (I am pretty sure, I have no idea what the above means!).
The last time Gold had a lengthy sideways move is from Apr-06 to Aug-07, and then the world started collapsing and printing presses worked non-stop and gold hit the peak.
Is gold now tied to QEIII? If there is no QEIII are we looking at Gold breaking down 1500 mark? It bounced off of that low multiple times in May and then recently at 1555.
There is no catalyst to buy gold unless we are assured of another round of easing by FED.
Interested in your thoughts.
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