Where's gold going? -- As you can see on the chart below, gold has formed an almost perfect rectangle. The top of the rectangle has been tested three times, and each time gold was turned back. Obviously, there are some powerful groups (the shorts) that do not want to see gold move into and above the 1800s. At the bottom of the rectangle, gold has found support at approximately 1575. For the last two weeks, gold and the dollar have moved in unison, which is most unusual. At the bottom of the chart we see the slow stochastics, which are in the neutral or middle zone. Since the bull market in gold is still in force, I would expect gold, ultimately, to break up and into the 1800 + zone.
One caveat -- After rising for 12 years in a row, I expect the bull market in gold to produce a final ... Log in or subscribe to continue reading.
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