So here it is!! The US$ has started to strengthen and Gold took a dive. This could be the beginning of a Gold correction where the 1. leg could run into Q1, 2010 with a target around the Neckline of the BIG Head&Shoulders. The Neckline also coincides with 2 Fib levels, namely the 61.8 Retracement of the entire last rally and also around the 61.8% Fib Level of the copy of the last bigger correction.
Below the Neckline we find a huge Volume cluster (on the left side of the Chart) which indicates a major Support area.
If we fall through this area things could take an entirely differnt direction.....
Pls bear in mind that if Dollar strength comes into the market that it could run for up to 1 year. (pls compare to last week's Gold Roadmap)
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