Friday, September 6, 2013

Jesse Sees An Inverse Head-and-Shoulders in Gold

This is the one thing to be wary of when short gold as a break above that $1420 neckline could set up a retracement of the whole waterfall decline i.e. $1585 or so.
The chart shows a head and three shoulders on both the left and the right side.
We are still looking at $875 as the target in 2014.

From Jesse's Café Américain:
https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjB_2ONhuxQuwfvdApBwBGFs64UVKbzOkXqlm8pH0ZGDwOIad-CUGvBQ3F6tDm1WZjEcGdnyIoRC0OOTj9_uKK6obXYIBB1Z5Zxw_hcrmX8TnSGhe-gcKGHhBl45zKGtUDM9yuUkGPzqA-c/s1600/golddaily9.PNG