Gold Market Stress Test
by Morris Hubbartt, Silver Doctors:
Corrections are a cleansing process. They shakeout weak investors, and get the market poised to move higher. Technically, key oscillators are already in the “basement”, but that does not mean you can ignore the possibility of one or more rounds of price weakness, before gold begins to rally.
Note the expanding channel on the weekly chart, which portrays what is really my worst case scenario. Most bullish analysts, including myself, think the lows for gold are occurring at this point in time. Still, it’s important to look at the other side of the “price prediction coin”.
The channel suggests that the gold price could fall to about $1350, without doing any technical damage to the big bullish picture.
Read More @ Silver Doctors.com
2013-03-17 12:48:56
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