CURRENT GOLD PRICE

It was 60-Days Low last night.

It reached more than  78.6% discount in the peak of USD1900.30/oz

Today, the price has moved up slightly, to USD1587/oz ( at the point of writing).

Between USD1580/oz to USD1600/oz is a good buy. Below USD1580 is a bonus to all investor.

Now, see this

Do you know the term  Head & Shoulder ?

Have you watch Mike Maloney video? It is here.

Did you see a shoulder and a head have already formed since August 2011?
There is prediction of another shoulder being formed soon.

What is neckline?
Neckline is the resistance line at the 'neck'. Based on the chart it is roughly around USD1800/oz.

What do you think will happen?


Should a shoulder is formed, the peak is estimated at the mirror image of the Shoulder, Head, Shoulder
ie USD2100/oz.


Watch Mike Maloney video

You next question should be HOW TO BUY GOLD / SILVER?




Other INVESTMENT ARTICLES

Investopedia on Head & Shoulder

GOLD QUICK UPDATE : THE WORD IS CORRECTION

The article is written by a friend of mine, Mr Shufaad, from MelakaFX.com.

Original source written on early morning of 23/8/2011.

Good day traders!

Gold highest price now is $1911.86.

Nearest resistance is $1925, then $1950.

Technically, there’s going to be a correction as nearly all technical indicators are overbought.

Daily RSI has reached 84.4 level, the highest level I’ve seen. Extremely Overbought.

Daily Stochastic is at 96. Extremely overbought.

Daily ADX is at 77. Too much Extremely strong trend.

MACD is interesting. Its Hourly study shows a Divergence while its Daily study shows parabolic (see red line i price and MACD). This is an indication of a correction might happen.

Gold Divergence

Supports are found at $1877, $1857, $1836 and ultimately our psycho level at $1800.

Correction is what gold needed to move upwards and continue its long term bull.

In short and near term,I remain bias to the downside.

Shufaad