Spot gold is consolidating below resistance at $1800. Until we have a breakout there is no confirmation that gold has started a new up-trend. Reversal of 63-day Twiggs Momentum below zero would warn indicate weakness.
* Target calculation: 1800 + ( 1800 -1500 ) = 2100
US Dollar Index continues to decline, boosting gold and commodities. Respect of the rising trendline would confirm the primary up-trend — as would a trough on 63-day Twiggs Momentum that finishes above the zero line.
* Target calculation: 80 + ( 80 – 75 ) = 85
Hi Colin et al , just waiting for gold to bounce off the $!800, rekn we could get $1675(approx ) .Keep up the good work .. PS rekn we could get short on AUDUSD soon as well Cheers..Q
Thanks QED. Interested in your reasoning with AUDUSD. Have you posted on the forum?