Monday, 15 April 2013

Gold Continues its decline


Gold breaks through the $1600 key support level (see previous chart post in blog) with a well formed triangle which then formed the resistance level for a very short period. It then continues its decline to $1500 after consolidating through March April.  It then continues again to decline significantly with big falls.  I would keep well away from this falling knife commodity until it settles, probably around $1200.

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