GOLD CAN COME DOWN TO $1250 : NEW REPORT FROM MARTIN ARMSTRONG
*l*l*CHIEF*l*l* CHIEF
GOLD UPDATE FROM MARTIN ARMSTRONG DATED 15 DEC 2011
Those who are unfamiliar with our model will find that especially as
we go into year-end, markets have a strange attraction toward our year
end numbers. In the case of gold, the strange attractor is $1405.50.
Our model also suggests that support in 2012 will be found at 122800,
with long-term support at 8575.00. I have been warning that it is time
for a pause. So many hate when I say that, their heads turn a full
360⁰ and out comes the green spew that greenbacks are fiat currency
and how gold just can never go down. Gold fell 1975-1976 and 1980-1999
when the currency was still fiat. It means nothing.
This is why gold is falling. The weekly closing below $1605 will
confirm what is coming down the pike. There just has to be a cleaning
out of tired longs who have been sitting there counting
their profits like chickens based upon unfertilized eggs. All the
indicators have been warning that a correction is coming. The
fundamental mantra about fiat currency is getting old. The market is
poised for retest of the 1225-1325 area going into 2012 which is the
key support.
READ AND DOWNLOAD FULL REPORT ON BELOW LINKS
http://www.box.com/s/3lagtq27a4d0d77a2ip1
http://www.slideshare.net/chiefsworld/whats-up-with-gold-12-152011