GOLD Primary and Weekly cycles
As I've been mentioning for a number of weeks now...
for the trend to continue higher into the 4th Quarter and then 2012 price would revisit the Weekly lows in September, find support, and then begin the next move upwards.
As we can see in the above chart, price has moved down into the Weekly lows, but it hasn't found support.
That might change if Friday closes higher, or next week opens above the September 50% level....
However, on most occasions the market won't break the Weekly lows @ 1752.
Whilst price is below the Weekly lows any view that the trend is going to continue higher is now open to RISK