Gold’s correction already near our next target!
Our initial target at our October 16 sell signal on gold was $1,650 an ounce. The potential support there held for awhile, looking like gold might be building a base.
But our technical indicators remained on the sell signal, and gold has now broken to the downside from the symmetrical triangle formation within which it had been confined. As we have been noting the direction of such a breakout usually indicates the direction for awhile.
With the target of $1,650 having been reached and breached we told subscribers the next potential support is at $1,550, the level of its lows in December 2011, and June of last year.
Read More: http://newsdoors.blogspot.com/2013/02/golds-correction-already-near-our-next.html