Here is an hourly chart of August gold showing the short term price boxes. The market has been supported at the 1/2 point of the current box since July 5. I am guessing that gold will have to break 420 by a little, say to 419, in order to flush out the weak longs and set the stage for a strong upmove. The next upswing should carry gold to 450, half a box above the recent top near 444.
No comments:
Post a Comment