The white circle on the chart left shows where selling overwhelmed buying in the gold market this evening.

Expect the gold lows of today to be tested shortly and probably taken out in the overnight markets.

The next chart in our series shows the longer-term strategy for the money tigers in my opinion and that line of support for gold prices has still not been taken out.

That is the trend over the last 6 months and is a stronger support level than any of the little ones we’ve been experiencing intraday this last week.

The 6 month trendline is still intact for Gold.

USD $1100/oz. is the number to be watching this week.

If gold prices breach that price support barrier, then, we’re looking at the USD $1000/oz. point as the next stopping point.

There’s no real news driving this market.

Just the usual rumors that are given the blame for this manipulative sell-offs by the big money interests.

That, of course, doesn’t mean that ‘smart money’ isn’t flowing into some other markets at the same time profits are being taken out of Gold.

Ah, yes. Nothing like storing your newly minted profits from the Gold run-up in a currency that’s rising in value or even in certain stock markets for that matter.

We’ll look at the currencies tomorrow to see what’s hot there.

Until then, good evening from here. – George

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Tags: WD Gann, stock market prediction, gold traders
The Excalibur Method, gold price predictions, timing the markets, money tigers, trading education, gold price charts, e mini trading, technical analysis

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