Overlaying a Gold chart with Gann lines and Harmonic lines can provide one with a unique perspective on price action. In March 2014 Gold peaked at $1392. From this high, one can project Gann lines downwards. From the early June low at $1241, one can likewise project Gann lines upwards. Using the Oreste method which I detail in my subscriber newsletter, one can overlay the Gold chart with Saturn and Neptune harmonics. Notice that Saturn and Neptune harmonics have bracketed the trading range year to date. Right now, the area of interest is the Uranus and Pluto harmonics at the $1272-3 level. This is where price currently finds itself. Two harmonics acting in concert should provide a good support level. But, if price wants to blow through this support, the situation for Gold is going to turn ugly as we will be headed for a test of the June lows and the Saturn / Neptune harmonics.
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