Gold in Yearly STOPD Perspective

Here is a spot gold weekly chart with yearly STOPD Levels. I draw those levels by hand as I do not have access to my auto indicators on this laptop.

Observations,

1. The orange levels are 1st quarter of 2010 and 2011 projections. Gold reached 400% expansion from 2010 1st quarter range. It stopped at 200% and 300% last 2 times. It is likely that gold will stall at 400% as well.

2. 3 pushes against the pink uptrend resistance in end of 2010. Indicated a pause in play and pullback to the 3 pushes target.

3. At the same resistance line again now.

4. The red trendline is now support – breaking that implies the uptrend is over at the weekly level.

Opening this thread for open discussion on gold.

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