Gold and Gold Stocks are now seeing extreme investor pessimism & a host of technical data is pointing to an extreme in undervaluation and sentiment. A good update by Pater Tanenbrarum - http://www.acting-man.com/?p=15935
This is not to say we are at an imminent turning point, only that one could be very close. I would be surprised to see Gold staying below the recent low at 1625 for very long. Upside resistance is at 1675, 1700 and then the (red) downtrend channel at 1750.
Previous Update: http://elliottwavecounts.blogspot.co.uk/2012/02/golds-downtrend-channel-asserts-itself.html
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