Gold Outlook Next Week (9-13 April 2012)

Gold price is now testing major trendline, which started from 2008 (very strong support). Breaking this line, we will be heading to next fan line i.e 50% fibo fan line. Lets see what will happen next week.

My side : I think the down-move is just begin (for price correnction). However, the 7-8 years economic cycle is far away from finish. It is now on the 4th year. So don't expect the price shall trending down drastically.