Gold Forecast Nov. 22nd, 2011, Technical Analysis

Gold markets sold off hard on Monday as a rush to liquidity continued. The larger funds are having trouble with falling markets, and the gold trade gets sold off in a bid to raise cash when needed. The recent analysis that we have put out said that the $1,700 level was the start of massive support, and that we needed to see a few calm days in the market in order to get long of this market. We are looking for supportive candles in this area and will continue to do so until we break below the $1,600 level, which we see as the absolute bottom of nearby support.

Gold Forecast Nov. 22nd, 2011, Technical Analysis Gold Forecast Nov. 22nd, 2011, Technical Analysis

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