From Gold Scents:
I think next week will mark a major turning point in the gold market. Depending on whether the dollar continues higher or turns back down, we will either see a resumption of the D-Wave decline or this will just turn into a normal run-of-the-mill intermediate degree correction, followed by another leg up in this 2 1/2-year C-wave advance.
First the pros:
The COT report has now reached a maximum bullish level on the commercial contracts. In the past, this has always marked major bottom turning points.
Sentiment and breadth have reached extreme bearish levels (contrary indicator)...
Read full article...
More on gold:
This is the cheapest place in the world to buy gold today
Reports say billionaire George Soros has dumped all of his gold
Gold MANIA: Why we could be on the brink of the biggest bubble in history