Friday, April 15, 2011

Gold Update

If the TP&DH formation is a possibility, the market should currently be making point 23--which should be the high before prices begin to deteriorate. A break below the blue trendline currently at 1440 would enhance the probability of the formation occurring.
45 degrees from July 28 @ 1155.90 = 1419.90
60 degrees from Jan 28 @ 1308.10 = 1446.66

1 comment:

Jim said...

Thanks Fibocycle,...Do you have an opinion on whether Gold leads the US Dollar Index,..or vica versa? I know they trade inversely,...just wondering which one you feel leads the other.
Thanks. Best Regards, Jim P.