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Author: MDCigan Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 41315  
Subject: Re: Gold - Updated TA Date: 12/19/2012 10:40 AM
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FWIW, right here, you've got about the lowest risk entry you can get. It is sitting right at the 10 month/200 day moving average. So you buy here and then you stop out if it doesn't hold for a small loss. To my eye, there is no meaningful support in between here at the 200 DMA and the 1525-1535 level so I would assume breaking down here assumes a full retest of that level once again.

I always remember Louise Yamada's the wider the base, the higher in space, the wider the top, the steeper the drop. The longer this 1525 to 1800 range persists, the move either way should be explosive.
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