Sunday, 11 August 2013

Is gold now in the green zone? 2013-08-11 weekend.

Sunday night - the 14th anniversary of the only (and rainy) solar eclipse in England for a long time.

On Saturday I thought of what I would like to happen in gold. It looked a bit like this. First target about $1332. I didn't really expect it to happen, thought it might pull back a bit first. First target about $1332, then maybe pullback to $1310 and then potential breakout of the downtrend:

The bigger picture. An upmove would take gold close to breaking out of the downtrend if it can be pulled off. I want to see the blur uptrend in force. Friday's close was right on the central median line of the uptrend. It might pull back or go to the top blue line, who knows?:
Friday's close. US dollar turning down a touch at the close and Euro up. However, gold had a perky day even though the Euro was down against the US dollar for much of the day:

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