5 year, weekly chart of gold. Target = $1033 $GC_F

By December 8, 2013 Gold Futures One Comment

I haven’t posted a chart of gold in a while so here’s some numbers to chew on.

Gold is near the weekly low of 6/24/2013 = 1179.4

That would be where the start of an “h” pattern (down) or a “W” pattern (Up) occurs.

If price can push under 1179 with conviction, the target = 1033.4

There will be support from the week of 2/1/2010 at 1044.5

If support holds in the 1179 area, 1st resistance is = 1488.8

The next MAJOR support is the 5 year low of $754.1

Notes are on chart:

Gold  target = 1033.4

Gold target = 1033.4

 

 

 

 

 

 

 

On a shorter term there’s a target of 1222.1 that’s been hit but not closed. Until its closed, it will be support.

Gold target = 1222.1

Gold target = 1222.1

 

 

 

 

 

 

Thx,

dave

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