Monday, March 26, 2012

Gold ~ Update ~ 26 March 2012

The resistance at 1670-80 is still holding so the trend is still down:

Gold has corrected 62 % of the previous rally so far.

The current downtrend can be labeled as wave ii. If so, then we should see a third wave up next. Before turning bullish again I'd like to see a break of 1720ish first though.