Gold Trend.net
Nov 4 2015
Gold short term
We got our low near 1131 last week and so far this week, we’ve moved to the final uptrend line where gold must either hold or the 1100 area at the Fib 78& retrace will be next. We’re moving into the ADP report on Wednesday and the NFP report on Friday. If gold is going to turn up, it has to happen at one of these two areas. If gold can recapture 1122 it will give it a potential to get to around 1148-1150. If the blue cycle turns here, ok, but even then, it looks like it could just be a bounce. On the other hand, if gold has resumed a bull market (and that’s no where near CONFIRMED by any means) then it should turn here. It’s very possible that the 1122 area will be where gold is come Friday’s NFP report and the results will most likely propel the next move. If I had to pick one, I’d favor a bounce into next week.