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Gold crashes through primary support

By Colin Twiggs
July 18th, 2015 10:00 a.m. AET (8:00 p.m. EDT)

Advice herein is provided for the general information of readers and does not have regard to any particular person's investment objectives, financial situation or needs. Accordingly, no reader should act on the basis of any information contained herein without first having consulted a suitably qualified financial advisor.


Gold broke primary support at $1140/ounce, signaling a decline to the target of $1000*. 13-Week Twiggs Momentum peaks below zero have been warning of this for some time.

Spot Gold

* Target calculation: 1200 - ( 1400 - 1200 ) = 1000

Major producer Barrick Gold also broke primary support, at $10, strengthening the bear signal for gold. Similar peaks below zero on 13-week Twiggs Momentum warn of a primary down-trend. Breach of support offers a target of $6.50*.

Barrick Gold

* Target calculation: 10 - ( 13.50 - 10.00 ) = 6.50



The financial markets generally are unpredictable. So that one has to have different scenarios... The idea that you can actually predict what's going to happen contradicts my way of looking at the market.

~ George Soros



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