Gold: weak

Yearly trend: in 2012 /2013, qualification in a new bullish parallel pattern

On a yearly basis, a bullish parallel pattern is in progress with a strong dynamic for LY. A type II is expected at the end of the current period. On a global Historical basis, one of the most bullish pattern ever seen (since the end of XIX century).

Idea: focus on LY trend

Bet: S&P 500 rise in the 1986 / 2000 as a benchmark.

Long term: bullish parallel on a quarterly basis

On a quarterly basis, the pattern is a bullish parallel one. A type I could develop. The dynamic for our 7 / 23 quarters moving averages is strong and continue thru 2013.

On a monthly basis, a bullish parallel pattern is in progress.

Idea: focus on MM.

Bet: towards 5 000 or above as long as no NEI will develop on a monthly basis.

R = rise > 2 years, +++ (could be above 5 000);    S = MM (1474.6), MQ (1118)

Medium term: weak

On a weekly basis, a PEI is the status for MACD.

Idea: focus on PW trend

Bet: nothing to do.

R= MW (1695), PW (1733);   S = 1522.66 (Current low)

Short term: trading range

On a daily basis, Bollinger bands spread is minimal. No PEI could develop with TAM tools.

Idea: UD = resistance

Bet: technical recovery.

R = UD (1636)               S = MD (1596), LD (1555).

Conclusion: weak for some weeks.

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