Gold is in a shaky boat. The Geometric indicators are pointing towards a huge correction. I see Gold slip towards $1430 pretty soon. Right now it is trading at $1577. It will go to $1541 then to $1524, once $1524 is broken then there will be a waterfall like drop in Gold price, rushing to reach $1430 even perhaps $1310.
Facebook Stock is been having quite a bit of challenge since it’s IPO. The stock was offered at $38 in the first day (May 18/2012) and it went up to $45 that day, however that was the peak of the price, then FB dropped down to $17.55 in less than 4 months; since then it’s been trading in the range of mid $20s.
Investors have gained some confidence in the stock therefore the price $28 has become a strong support level. Besides the pattern that is being created looks like a head and shoulders pattern which indicates towards the $33 range. Once $33 area is achieved then it will go for $38 area.