Gold: 1 January 2014, Wednesday, 12.20am Singapore Time
Attached is the 5 minutes chart of Gold.
The chart shows the actions of the last trading day of 2013 for Gold.
The final collection/accumulation of buys/longs on Gold has been executed perfectly with a fake break-down as above, triggering another sea of stops. This is for the professionals in wall street to collect their buys.
As per reiterated in past analyses (http://donovan-ang.blogspot.sg/search/label/Gold), Gold is a buy for short-mid term investment.
When Equities and Bonds are expected by me to turn bearish, the hot money and smart money do not have much other paths to go. Gold is expected to execute a strong technical rebound from 1160-1200 area and go up at least +30% from here without leverage, and up +300% with a typical CFD 10x leverage.
Mark the targets down in your memory.
Share, if you found it useful or if you found the analysis very arrogant as it goes against public views out there.
Donovan Norfolk Ang
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Hi Donovan,
ReplyDeletewill this mean grains commodities such as corn and soybean which did not have fake break down like metal commodities unlikely to bounce?
Thanks.
Will the upcoming festive season - CNY drives the demand for Gold in China and thus push up the price ?
ReplyDeletefor many retail investors who missed the 1184 mark (lightning speed by the big boys), is the current price still a buy ? What time frame can we realistically look at if one were to long ?thanks a lot