Sunday, December 13, 2009

Gold Update

Gold remains in an uptrend. The weekly gold made a regular Fibonacci 89 week Cycle High on 12/2/09 High and saw a strong reversal down the following week.
There is also a regular Fibonacci 55 (54-57) week Cycle that came in on the 12/2/09 High and is next due in early September 2010.
We should see lower Lows next week. Key support is around 1060.

Weekly CITs: 12/25 wk, 4/2/2010 wk, 11/5/10 wk

Daily CIT is on 1/6/2010 and 5/2/10.

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