Gold is at an interesting spot right now as we are about to make a low in the Dollar within a few days we can expect a retreat in Gold prices. The bigger picture suggest mid term a rise up to 1300 as we have made a classic price patter which is an inverted Head and Shoulder as a consolidation pattern which will lead apparently to a leap up within 6-9 months to 1300/50. My ultimate goal is rather 2000 but that will be more the hyperinflation price as the governments have to put more printed money into the real economies next year when markets do collapse again. So for now we have a bit of margin left to the upside but the ratio is to dangerous to go for it as a retreat is mandatory. The fllor the Chinese have put under Gold is the speculative driver for now but that will be turned around by a rising Dollar near term.
Tuesday, September 15, 2009
Gold tech update - the only way is up?
Gold is at an interesting spot right now as we are about to make a low in the Dollar within a few days we can expect a retreat in Gold prices. The bigger picture suggest mid term a rise up to 1300 as we have made a classic price patter which is an inverted Head and Shoulder as a consolidation pattern which will lead apparently to a leap up within 6-9 months to 1300/50. My ultimate goal is rather 2000 but that will be more the hyperinflation price as the governments have to put more printed money into the real economies next year when markets do collapse again. So for now we have a bit of margin left to the upside but the ratio is to dangerous to go for it as a retreat is mandatory. The fllor the Chinese have put under Gold is the speculative driver for now but that will be turned around by a rising Dollar near term.
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