Gold is a lean, mean, fighting machine!  It has made a better come back than Rocky. Look at that super V shape recovery at USD 1,470. Have you loaded up yet?

Here is the technical analysis for those who are interested to know:

• Gold has retested the 61.8% Fibonacci levels twice with strong support. Fibonacci levels are listed on the left margin. You can learn more about Fibonacci here (click here)
• Gold has retested the long term downtrend line stretching from the Last All Time High at USD 1,895. This is where the super V shape bottom hit at USD 1,470. This shows very strong support, not likely to hit back there again soon
• Gold will likely retest the USD 1,650 level as this level has not been tested yet and was broken when it fell in the drop of the V shape. This level also coincides with the Fibonacci 78.6% level
• Gold may retest the USD 1,590 level which is the EMA20 level (exponential moving aeverage for last 20 days). If the stock market dives and people need to raise cash again, it is possible they will have to resort to selling gold again. Liquidity crisis anyone?

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