{"id":57178,"date":"2010-09-13T11:26:45","date_gmt":"2010-09-13T01:26:45","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2010\/09\/13\/its-crunch-time-for-gold-reports-techwizard\/"},"modified":"2010-09-13T11:26:45","modified_gmt":"2010-09-13T01:26:45","slug":"its-crunch-time-for-gold-reports-techwizard","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2010\/09\/13\/its-crunch-time-for-gold-reports-techwizard\/","title":{"rendered":"It&#8217;s Crunch Time For Gold, Reports TechWizard"},"content":{"rendered":"<p>\n\tBy Rudi Filapek-Vandyck<\/p>\n<p>\n\tThe TechWizard has observed gold seems to have genuine problems in surging past US$1260-70\/oz, despite many a market commentator calling for much higher prices before year-end.<\/p>\n<p>\n\tFrom a technical perspective, reports the Wizard, the case of gold is plain and&nbsp;simple: either the price of gold crosses above technical resistance (US$1260-70) or it doesn&#039;t. If it doesn&#039;t, then gold will have carved out a double-top formation on price charts and this will act as a major negative, he says.<\/p>\n<p>\n\t<img decoding=\"async\" alt=\"\" src=\"http:\/\/www.fnarena.com\/ckfinder\/userfiles\/images\/Gold_double_top.jpg\" style=\"width: 680px;height: 355px\" \/><\/p>\n<p>\n\tThe Wizard believes the coming weeks will be very important for gold. In case of a double top, he predicts gold will fall back towards US$1160\/oz.<\/p>\n<p>\n\tA break above resistance would only be regarded genuine if and when gold manages to close above USS1270 on a weekly closing basis, he adds.<\/p>\n<p>\n\tThe TechWizard is the pseudonym of Scott Morrison, whose experience in financial markets exceeds twenty years. Morrison operates his own website nowadays at <a href=\"http:\/\/www.techwizard.com.au\">www.techwizard.com.au<\/a> The views expressed are his, not FNArena&#039;s (see our disclaimer).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold will have to break through resistance or retreat, reports the TechWizard.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[22],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/57178"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=57178"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/57178\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=57178"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=57178"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=57178"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}