Gold

Gold has been grinding lower since it's recent high on 7/6/16, but has accelerated it's move since 9/22/16.    However, based on the trend analysis of this overall downward move, Gold is setting up for a potential significant buying opportunity.  I will be watching this market very closely over the next couple of weeks to determine when and where a possible entry will occur.

Please see current analysis below...

Trend Analysis:

* dominant: deep retracement, 8:19 left skewing (bullish, bullish)

* supporting1: deep retracement, 3:22 left skewing (bullish, bullish)

* supporting2: deep retracement, 4:8 left skewing (bullish, bullish)

* time ranges getting smaller 27, 25, 12 (bullish)

* can expect a bounce to min 61.80 retracement level once bottom reached

* weak downtrend signals to look for buy entry in fib projection zone

Fib Projection Zone levels (dominant/supporting1):

261/261: 1224.80

261/361: 1198.75

361/361: 1170.90

361/461: 1144.85

461/461: 1117.00

Projected Buy Zones:

Zone 1: 1208.00 to 1229.00

* contains 261/261 level

* contains previous support zone 1207.00-1213.00

* contains 361 level of supporting2 @ 1208.10

Supporting data:

* RSI oversold

Market Action:

* looking for buy entry