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Politics : Technical Analysis
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From: The1Stockman1/4/2014 11:42:28 AM
   of 14245
 
Gold forecast for the week of January 6, 2013, Technical Analysis
Posted January 04, 2014 3:25 By
Christopher Lewis

The gold markets initially fell during the week, but found enough support below the $1200 level in order to pop higher and form a nice-looking hammer. This hammer suggests that we are going to see bit of a bounce from down here, and quite frankly that’s not a surprise considering how important the $1200 level truly is. That being the case, we think that the next couple of weeks could be fairly bullish for gold, but see no reason to expect it to break above $1400. With that being the case, the next couple weeks could be positive, but a move below the lows of the week would be extraordinarily bearish, sending this market looking for the $1000 level.

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