Gold Daily Video, October 16, 2014

[Sive Morten]

Good morning,

Gold has reached an area where downward action could re-establish again:





The technical portion of Sive's analysis owes a great deal to Joe DiNapoli's methods, and uses a number of Joe's proprietary indicators. Please note that Sive's analysis is his own view of the market and is not endorsed by Joe DiNapoli or any related companies.

 

[Slim Trady]

Thanks for the analysis Sive.

1154 double bottom looks to be the next target for GOLD where I expect buyers to enter the market.

If this level fails we could be looking at 1044 next double bottom.

Interestingly changing the Fib levels from 1920 high to 1156 low (prev 1180) has the 23.6 retrace coming into play at 1344.

I think 1154 will be significant.

Cheers