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Commodity, Currency, Gold, and Equity Market Analysis by Dr. Christian
Normann |
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page for important information about risk management and position
sizing. We provide analysis in good faith and to the
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takes a substantial amount of time, effort, and discipline.
Your trading and investment decisions are
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Gold Comment - FINAL
ORIGINAL CHANNEL RESISTANCE BROKEN - TREND ACCELERATION LIKELY IMMINENT - Friday August
5th 2011
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Since the significant low in February 2010, we have
been looking for the rally out of that low to continue roughly to the
top of the dark blue trend channel (that we first suggested in 2009)
before the next significant (~15% or more) correction. $1900-$2050 now
looks like a very plausible minimum target range for the February 2010
to present move.
This week (ending
Friday August 5th 2011) saw gold closing above the last
channel/resistance line from the old 1999 to 2011 uptrend channel.
A sharp move up looks very likely.
We expect the upper orange channel line to act as
major support now that gold's uptrend finally appears to have initiated
its phase of acceleration.
The next correction is likely to bottom >no lower< than around the top
of the orange channel.
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| Always remember
that proper risk management is essential - without it, you can be
entirely correct regarding the main trend, yet you would still be likely
(nearly certain in fact) to sooner or later blow up your
account. |
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Normann
Financial - Commodity, Currency / Forex, Gold, and Equity Stock
Market Analysis by Dr. Christian Normann Trading Investing
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