#155. Gold Investment And Tetrahedron Update 4

Learn To Identify The Ups And Downs Of The Market


In my previous Update on 2 January 2009, I have shown that the gold price will come down. At that time, the price was US$871.08. And I have only based this analysis on using the chart alone as well as applying the Elliot Wave technique.


If you have read my previous articles on this series of Gold Investment And Tetrahedron, there is no mention at all on 'fundamental news'. Some investors are still arguing about fundamental news versus technical chart analysis. I will not go into this kind of argument. Whatever works for you, right?


Amazing isn't it, the way the price moved? Seems like there is an invisible natural force causing the gold market to move predictably. And seems like the fundamental news are just supporting the price movement, and not the other way around. It seems like the way the price has moved was not caused by any fundamental news.

Now, below is today's chart.

The price has come down to US$854.72. The price may go down further in the coming weeks. Again, I based this on the Tetrahedron theory and Elliot Wave. Price will go down further and will offer a new opportunity for investors.

The next point that the price could possibly go to will be at US$835 level. If the price breaks below the first support level, we could probably see price touching the US$820 level. At this moment though, it's too early for me to 'see' when we can have the buy opportunity again.

Using the Tetrahedron theory, do you think we will see another triangle shape forming in the chart as shown above? Time will tell and show us.

Keep on reading my blog to stay posted on new updates.