Gold Daily – 16 December 2013 – Updated 2014 Jan 4

On the daily scale wave formation is projecting new lows around mid January 2014

PM Gold20131216 D

4 January Update:

PM Gold20140104 New lows or Bounce

After failing to make a new low as projected on the 2 December by $2 before the New Year gold made its high today at the intersection of a weekly ML and Monthly MLU, and closed on another monthly MLU.
Gold needs a daily close above 1232 before there is a possible bounce.
Either way we should be revisiting the low 1190′s before the 10 January.

Until Gold breaks out of the blue triangle we are again in no mans land!.

One Response to Gold Daily – 16 December 2013 – Updated 2014 Jan 4

  1. Marc says:

    After failing to make a new low as projected on the 2 December by $2 before the New Year gold made its high today at the intersection of a weekly ML and Monthly MLU, and closed on another monthly MLU.
    Gold needs a daily close above 1232 before there is a possible bounce.
    Either way we should be revisiting the low 1190’s before the 10 January.

    Until Gold breaks out of the blue triangle we are again in no mans land!.

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