Gold crashes through primary support
By Colin Twiggs
July 18th, 2015 10:00 a.m. AET (8:00 p.m. EDT)
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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.
* 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*.
* 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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