elpuerto93
Gold September 7 2012
Not implying this rally in gold is over, yet from the two last times these conditions were met, Ultimate Oscillator reading touching or over 80 with divergence, and the RSI over 70, gold corrected 7% in April of 2011 and 20% in September 2011 from the high.
Percentages last two times from low, when trigger was signaled 4/19/2011 1487.5 to 1576.05 +6% then a decrease of 7.2% from high. Next signal date 8/18/2011 1783.66 to 1920.80 +7.7% then decrease of 20% from high.
Projected highs from signal low date 8/24/2012 @ 1662.50 using past data 1762 to 1790
Projected lows from high using past percentages where gold acts like April 2011 looking for a pullback to either level finding strong support. 1st 1661 to 2nd 1635 then gold goes higher to test 1900.
Projected lows where gold acts like August/September 2011. 1st 1432 to 2nd 1410. This would be a big move down for gold and mean gold needs more time to recharge its batteries before going higher.
Note, once the trigger signal has been given a pull back could happen within 10 to 14 trading days.
This is all reading tea leaves.
Gold September 7 2012
Not implying this rally in gold is over, yet from the two last times these conditions were met, Ultimate Oscillator reading touching or over 80 with divergence, and the RSI over 70, gold corrected 7% in April of 2011 and 20% in September 2011 from the high.
Percentages last two times from low, when trigger was signaled 4/19/2011 1487.5 to 1576.05 +6% then a decrease of 7.2% from high. Next signal date 8/18/2011 1783.66 to 1920.80 +7.7% then decrease of 20% from high.
Projected highs from signal low date 8/24/2012 @ 1662.50 using past data 1762 to 1790
Projected lows from high using past percentages where gold acts like April 2011 looking for a pullback to either level finding strong support. 1st 1661 to 2nd 1635 then gold goes higher to test 1900.
Projected lows where gold acts like August/September 2011. 1st 1432 to 2nd 1410. This would be a big move down for gold and mean gold needs more time to recharge its batteries before going higher.
Note, once the trigger signal has been given a pull back could happen within 10 to 14 trading days.
This is all reading tea leaves.