OASIS FORUM Post by the Golden Rule. GoldTent Oasis is not responsible for content or accuracy of posts. DYODD.

And now for another viewpoint:

Posted by Samb @ 11:17 on August 4, 2014  

The bottom is NOT in, imho. Here is why: The Intermediate uptrend was capped at only six weeks. That is not normal and it was achieved by  large paper gold shorting on the 14th and 15th. There was a major reversal on the 16th and the goldbug analysts were saying that the manipulators were losing their grip. Really? Look at the charts and you see that the upside reversal on 16th produced a LOWER high. Just to make sure there was another massive hit on the following day. Three major hits in 4 days means the Boyz seriously wanted gold lower.

During a normal Int. Uptrend there are a couple of Daily reversals that normally last from 5 to 8 days. Well this reversal is now over 3 weeks… that means that the 6 week uptrend is over and we are now faced with an Int. downtrend. Ever see one of those last for only 3 weeks? Me neither! There is more downside to go here for gold and the very best that I can see here is Gold $1240. At any rate, the various signals/occilators that I customize say more down to come. At gap fulfillment we might find a brief relief rally.

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Post by the Golden Rule. Oasis not responsible for content/accuracy of posts. DYODD.