I put a title to this post and involuntarily just started singing this song from Evita. As i went over the words i figured that this was me back when the oil started cracking in 2008. I assume that gold bulls are feeling the same way today and will find something to take away from this.
Where do we go from here?
This isn't where we intended to be
We had it all, you believed in me
I believed in you
Certainties disappear
What do we do for our dream to survive?
How do we keep all our passions alive,
As we used to do?
Deep in my heart I'm concealing
Things that I'm longing to say
Scared to confess what I'm feeling
Frightened you'll slip away
Long term support comes in at 1100-1180 depending on how quickly we get there. 1180 also coincides with the point at which the current move =161.8x (move from September 2011). This is also an area of previous consolidation from the end of 2009- May 2010.
It goes without saying that a lot of chop is also expected at these levels.
Expect a follow up when we get there, if we do..
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