Gold Forecast of 8-16-11 Update

Gold Forecast of 8-16-11 Update

I commence with my gratitude to The Creator

Gold has reversed from the strong resistance $1,872 area, as previously predicted.

As a matter of fact all predicted price levels were the only levels which offered  resistance. (and support).

Gold was trading at $1785, when I said, that once it found its support there, it shall be eclipsing the recent highs of $1810 area and shall go higher. I had given out the price levels in another forecast.

Gold and Silver Markets' Forecast Update

Gold Forecast Update

I commence with my gratitude to The Creator

Gold commodity kept bouncing off support level ($1,785) stipulated by my previous post and it had rebounded sharply since then, as I had predicted.

Gold did start its move higher on the time cycle of 8/16 midnight.

Gold and Silver Markets' Forecast Update

Gold Analysis and
Forecast 8-16-11

I commence with my gratitude to The Creator

Gold has been finding support, since it fell hard, after it hit my forecasted target f $1809 area. After it bounced off 1,720 area, it has recently traded at $1,785 area. $1,785 is a strong resistance area. Failure at this level shall push gold back to below $1,700 area.
As it is true for all resistances, once this area is cleared then, gold shall traded even higher and it shall eclipse recent highs with no problem and shall seek new higher prices. Which has been posted in my prior posts. Next  time cycle for potential change in trend is 08/16-08/17.