Tuesday, October 18, 2011

Gold is looking to break down

In my earlier article I discussed a possible gold bear flag downward resolution. http://viewonmarkets.blogspot.com/2011/10/gold-consolidation-before-explosive.html

My view remains the same. This morning gold futures are down big and I think that the trade I discussed could be on the way. Keep your eyes on levels of support and how they break. Now that 1655 is taken out, 1627, 1595, and 1585 are next on the way to 1535.

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