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Commodity, Currency, Gold, and Equity Market Analysis by Dr. Christian
Normann |
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Please visit the
About Normann Financial
page for important information about risk management and position
sizing. We provide analysis in good faith and to the
best of our ability, but all information on this
website is provided solely for educational purposes and does not
constitute investment advice. Learning to
operate successfully in the financial markets is not easy - it
takes a substantial amount of time, effort, and discipline.
Your trading and investment decisions are
exclusively your own
responsibility. Proper risk management is crucial.
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Gold Comment - GOLD IS ALREADY ATTEMPTING TO BREAK ABOVE THE NEXT TREND CHANNEL IN RECORD TIME - Friday
September 2nd 2011
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Since the significant low in February 2010, we have
been looking for the rally out of that low to continue roughly to the
top of the dark blue trend channel (that we first suggested in 2009)
before the next significant (~15% or more) correction.
After clearing the final line of the old long term trend channel, we
stated - on August 5th 2011 - that a sharp
move up looked very likely:
FINAL RESISTANCE BROKEN - TREND ACCELERATION
LIKELY IMMINENT - Friday August 5th 2011
After soaring up to touch the top dark blue channel
line in a mere 12 trading days after the breakout above the final old
channel resistance, gold experienced a very sharp but extremely short
pullback. It then quickly ran back up near that line, and if gold
can manage a weekly close sufficiently above it, further acceleration
becomes likely, with the top of the blue channel likely becoming
support. However, a failure to quickly break the top line could
easily result in a more severe 15-30% correction before the secular gold
bull market resumes.
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| Always remember
that proper risk management is essential - without it, you can be
entirely correct regarding the main trend, yet you would still be likely
(nearly certain in fact) to sooner or later blow up your
account. |
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Normann
Financial - Commodity, Currency / Forex, Gold, and Equity Stock
Market Analysis by Dr. Christian Normann Trading Investing
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