- support at 1500 and 1400
- market is entering potential geometric trend change window
- $1400 support at the level of the 2010 high
Friday: Personal Income and Outlays, Chicago PMI
24 minutes ago
A collection of charts and graphs that reflect my personal observations about the economy and the markets. Charts are based upon The Golden Ratio (Phi), Sacred Geometry and an eclectic selection of technical analysis tools. This blog is for entertainment and/or educational purposes only and should not be construed to be any form of solicitation or offer of professional analysis for any of the investment vehicles mentioned herein.
The current price $1663 is at the orange parallel line and is also at point Z , which represents the circumference of the circle centered at Y.
The vesica piscis channel has contained much of the advance in gold and is currently being tested.
The decline could extend to point X (app. $1625) without inflicting to much damage--but if Gold trades below point Z which will be outside the circle, defined by radius YZ, much lower prices can be expected.