Thursday, June 20, 2013

Gold low for July or August

The oscillator is pointing towards July 10th for a serious low, which also happens to be the pi cycle time applied to the debt crisis which is about July 7th.
Note the RSI approaching the 1999 oversold level. The low may happen in July/August or as late as October which the GDX chart has a trend for, that could imply a re-test of support then. The 1000 area appears to be solid support on the chart regardless of when Gold gets to it.

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