As Gold & Silver Plunge Here Are Two Remarkable Charts
KingWorldNews.com
June 26, 2013
With gold and silver plunging, top Citi analyst Tom Fitzpatrick spoke with King World News about what to expect next, and also sent KWN 2 remarkable charts. Gold has now reached Fitzpatrick’s price objective in the mid-$1,200s, which he called for after gold pierced the key $1,520 area to the downside. What Fitzpatrick had to say about gold and silver will surprise KWN readers, along with the two powerful charts he sent.
Eric King: “Tom, remarkably you called the rally high on gold at $1,791 in October of 2012, you then turned bearish on gold and it proceed to come down significantly in price. After gold recently breached the key $1,520 area you called for a target around the mid-$1,200s, and once again, almost like a magnet, gold has made its way to your target zone. What are your thoughts here Tom?”
Fitzpatrick: “Yes, it looks as though this correction may be nearing the end now that the objective we had been targeting has essentially been satisfied. It’s possible that gold may trade a bit lower because of momentum, but certainly we have now achieved the target I gave to you when we broke the double-top on gold.
This also gave us a high-to-low down-move on gold of approximately 34%….
The Rest…HERE
