Hey guys here below the German teams comments on the precious metal markets.
They hedge their bets this week with a neutral stance on the short and medium term. But remain bullish longer term.
Two scenarios..
The bullish scenario is for gold to hold above the 1724 level and eventually breaks the 1800 level which would immediately open the door to an attempt on the 1900 prior high.
The bearish case is for the gold to breakdown through the 1724 level which would open the door to 1660 potentially as the 200 day moving average. The doomsday scenario endangering the whole longer term bull trend would be the 1522 level.
Without further delay here the report.
BullionWeeklyTech-15-10-12
I remain bullish and therefore long precious metals and their miners with just about every instrument the market offers me on multi time frames.
Technicals and fundamentals remain very strong, is my own view for the moment.
Rich
(6 votes, average: 5.00 out of 5)
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