Any TA analysts on this board?

Something to think about...

Thomson Reuters technical analyst Wang Tao’s “Inside Commodity Technicals Q4 2011” sounded a fairly alarming note by stating that “A long-term uptrend for spot gold may have been violated by the depth of the recent falls, bringing an end to gold's 12-year bull run.” Using Fibonacci projections and wave-based analysis the TR technician noted that “the bull run that started at the August 1999 low of $251.70 across a period of 146 months, or roughly 12 years, has eventually come to an end.”

He went on to remark that “It generally takes some time for a top to form, so the most likely scenario will be gold continuing the current retracement to $1,447, the 38.2 percent Fibonacci retracement on the rise from $680.80 to $1,920.30. It could rebound to $1,700-$1,800 before starting a long-term downtrend that will reverse most of the rally from $251.70.”

source: http://www.kitco.com/ind/Nadler/sep272011.html