Gold Weekly July 20, 2012
The bands are starting to go down favoring a triangle breakdown. To negate, gold must taste the breath of life at 1600s. To bring back its luster, gold must take 1680s in the weekly scale to claim back its glory. Only then will I consider gold 2,000 (after 4 yrs when i spotted Gold’s parabolic).
References old blog site: http://www.reocities.com/spyfrat/gold.html
On September 19, 2008 in one of my UNPUBLISHED presentation (worth $1k hahaha), gold’s parabolic in that time in its super cycle state. Read it here : http://www.reocities.com/spyfrat/scarlet.html
included on that UNPUBLISHED presentation was a teaser, page 1 only. Honestly, no one took my desperate move to being noticed. OIL did plunged back to $40/bbl. I was wrong, it didnt happened in 3 yrs time. It came less . I underestimated the paraburst. After that, i dont care anymore. Until I found Stockmarketpilipinas.com, I feel alive and wanting to share back again. The parabolics in my experience is one powerful chart pattern ever. The mother of all.
My personal take on gold’s breakdown(around 1520s) is 1250 to 1300. Then a far fetch scenario for now is a 3-digit per oz. Just to be clear, Im no bear nor bull.
Previous Gold Weekly Charts