Gold: 21 March 2015, Saturday, 9.25pm Singapore Time
Chart courtesy of StockCharts.com
For Gold, we now only use horizontal lines of supports and resistances as basis of analysis.
For Gold, we now only use horizontal lines of supports and resistances as basis of analysis.
Gold has broken up the $1170 level, the resistance-turned-support now.
Phase 1:
Should the ORANGE LINE SUPPORT of $1170 hold, Gold's immediate target is $1200.
Phase 2:
2. Should immediate target BLACK LINE of $1200 be captured and made the new immediate term support, the short term target will be the GREEN LINE of $1240-$1250 level.
Phase 3:
2. If GREEN LINE of $1240-$1250 is captured and made the new short term support, the short-mid term LIGHT BLUE RESISTANCE of $1310 will break up without doubt and go for an accelerated rally to $1550-$1600.
Phase 4:
LIGHT BLUE RESISTANCE of $1310 made the LIGHT BLUE SUPPORT of $1310 will mean an accelerated rally to $1550-$1600 final resistance to take all profits off the table.
Phase 4 is dependent on Phase 3, which is dependent on Phase 2, which is dependent of Phase 1.
All 4 phases are expected to be a success and catch majority of the markets by surprise.
When markets hit phase-4 target, the entire world will be able to see an uptrend very clearly, and that is the point to take all profits off the table on clear trends; major trend will reverse on clear trend.
Additional Reference:
Gold ETF GLD: 21 March 2015, Saturday, 9.25pm Singapore Time
Chart courtesy of StockCharts.com
Chart courtesy of StockCharts.com
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