GOLD $GLD 02 Dec 2010

Here is the GOLD chart that I am looking at.  I see confluence of resistance level, channel, Fib levels, and harmonic formation.

I am keen to watch 1400 before deciding if to go short.

[tab: Initial Setup]
Here is the chart…… to confuse you.

[tab: Update 05 December 2010]

The initial bearish harmonic setup was invalidated after NFP announcement. GOLD fired through 1400 level. At the Friday close, I observed another bearish harmonic formation. The formation will be invalidated again if ‘X’ is violated.

Here is another chart….to CONFUSE you.