GOLD READY TO MOVE TOWARDS $1850- STEWART THOMSON
NOVEMBER 6, 2012
Today is election-day in the United States, and so far, the winning candidate is… gold! Gold is up nicely today, and showcasing an ideal technical situation; the green demand line and the green supply line are parallel to each other.
Whether you use the recent minor highs or the recent minor lows to draw your uptrend and return lines, the result is the same. My interpretation of this chart suggests that gold will now rise towards $1850. Fear must be professionally managed. To do that, it must be compartmentalized. The good news is that the next phase of this market probably won’t require you to compartmentalize any fear. As gold blasts over $1805, it will be greed that we all must manage, and I think you all would agree that a little greed right now, is just what the gold price doctor ordered!