In my article a couple of weeks back I stated that although I am firmly in the camp that believe lower lows will be achieved in the gold (NYSEARCA:GLD) price, I don't think we have achieved the prerequisite bullish confidence levels to elicit such a drop.
Zooming out to the big picture window my view has not changed, and neither has my call for a tradable swing low forming in the $1184-$1206 target range.
On February 23rd the gold price touched $1190 and found support, rising quickly to $1220 before consolidating and closing this week at a price of $1213. The questions we now need to be asking is whether or not our swing low is in place, and if it has formed, how far can a rally take us?
Is Eurozone Integrity Intact Once Again?
A number of analysts have touched upon problems in the Eurozone and Greece in particular as being bullish for gold. When we add the Swiss National Bank shock de-pegging from the Euro, they certainly have a valid…
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