Gold shows further signs of weakness

Gold didn't manage to break the resistance zone of 1190-1200 and now is moving towards a minor support zone at 1175 which is another proof of gold price action weakness.

We believe that 1175 level is a weak support and probably will not hold.In this case gold will probably move initially towards 1160 where there is some support and if it breaks towards 1140.

The big picture for gold remains bearish.

Another 35% fall for Gold Miners(HUI,GDX)?

Gold Miners (HUI, GDX) are currently confined between a major descending trendline from 2011 and a major support at 150(HUI)/17(GDX)

Soon something must give way and if our current Gold EW count (Is Gold starting a Major Decline towards sub-1000$?) is correct a possible scenario could be the following:

If Gold Miners break the 150(HUI)/17(GDX) support then the next major support is approximately 35% lower at 100(HUI)/11(GDX).
  

Markets View for the week starting 15.06.2015

Status Changes

GBPEUR: Bearish-Neutral---->Neutral

New Targets

DAX: 10.370

FTSE 100: 6.530

Markets View for the week staring 08.06.2015

Status Changes
FTSE: Bullish---->Bearish
EURUSD: Neutral---->Bullish-Neutral

Is Gold starting a Major Decline towards sub-1000$?

Back in late April(Gold and Miners ahead of FED meeting) we suggested the following pathway for Gold

Recently Gold completed the C wave of an ABC correction and we believe that currently is in wave 1 or 3 of 3.If Gold confirms our case we are about to witness a major decline of gold towards 1070-1060$.Immediate targets 1162$ and then 1122$.

If we are in a third wave then probably we are going to see Gold initially at around 1070 and then maybe even 930$
Currently Gold can invalidate our scenario  if it moves above 1190$

Markets View for the week staring 1.6.15

3D printing (DDD) another leg down?

Researchers from Gartner believe that the Hype Cycle for 3D printing is as follows:

Price chart of one of the largest 3d printing companies is the following:

Since January 2014 DDD is in a bear market that led price from 100-ish level to 20's currently.
We believe that another (last?) leg down for DDD, towards 18-18.5 zone, is in the cards.We expect a significant bounce from these levels.  

Gold near crucial pivot

A quick update today:

Gold is approaching the current crucial pivot of 1170$
If it breaks below 1170 then 1130$ is a very possible immediate target.
GDX (Gold Miners ETF):Crucial pivot @ 18,4$.If it breaks below then 14,8$ is a reasonable target  

Gold ready to move towards 1250?

Gold is currently forming a descending broadening wedge which according to Bulkowski (http://thepatternsite.com/dbw.html) 79% of time leads to a breakout (upmove).So we stay with our previous (Gold and Miners ahead of FED meeting) view...

Gold and Miners ahead of FED meeting

Gold did not form a rising wedge and instead it proceed to form what it seems like a trading range between 1180-1215.
However 1240-1250 remains the key level.Above that level bulls start to have chances for a substantial upmove.Our view is that Gold will move (especially after yesterdays upmove) towards 1240-1250 where probably it will bounce and (?)reverse.

Regarding Gold Miners ETF (GDX) we stay with our scenario(Gold:a fake Inverted H&S, a rising wedge and at the end a very bearish III(3) for GDX?) for an upmove towards  21-21,5 where probably it will bounce.

Don't forget we are just ahead of FED meeting and short term volatility for gold will increase substantially. Be ready to readjust your views after FED meeting tomorrow.