The gold price had gone down as expected since the past two days from about $800 to about $736 at its lowest point. The question now is the fall of gold price over? On the short term, it looks to be that the gold price has had enough of free falling. Needless to say, some people were probably caught disastrously by what looks to be the bottoming out of the gold price last night. The bottoming out indeed creates crazy waves.
The gold price on the five minute chart was buckling up & down violently, fighting off any further downward pulls. In one final attempt of descent, the gold price almost reached to about four dollars its lowest previous price, only to slow down progressively, & began turning the other way round. Today, you can see in the picture to the right that the gold price is beginning a larger whipsaw condition, pulling the prices from edge to edge of the five minute chart. Underlying Notion: My 2 Cents on the Current Gold Price
The gold price on the five minute chart was buckling up & down violently, fighting off any further downward pulls. In one final attempt of descent, the gold price almost reached to about four dollars its lowest previous price, only to slow down progressively, & began turning the other way round. Today, you can see in the picture to the right that the gold price is beginning a larger whipsaw condition, pulling the prices from edge to edge of the five minute chart. Underlying Notion: My 2 Cents on the Current Gold Price
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