September 14 2014
When it comes to cycles, odds favor that gold is going to make an important low between this week at the week of October 6th. There are a few key areas to watch. First off is the 1218-1225 area where we hit on Sunday night (1225.60 spot). The 2nd is that dual channel line at 1195-1205 and finally the 1155-1172 area (and up to 1180).
It is possible that the low of Monday will hold but there is so much deflationary trends at the moment that a plunge to washout gold can’t be eliminated at the moment. Once the FOMC is out of the way and the Scotland vote on Friday, then a trend change to markets is expected. If Scotland votes yes, the gold trend could turn up as this is shaping up to be a major event in the cycles of war and civil unrest that is coming. Read more...