CONFIDENCE IN GOLD WAS RETURNED??

It passed a long time since I wrote the last article.Starting with today I promise that I try to write articles every day.Event that caught  my attention last week was the Congress passes bill and raise the us debt and reopen the government.

What followed  this deal was important gains in stocks.In FX markets those who traded against the us the dolar had gained.
It seems that the global economy is in trouble,us economy was threatened with default,Japan economy reported moderatly growth,eurozone area stagnates.Despite to this problems it seems that investors look attention on commodities in special gold.

The precious metal reported important earnings in the last week.The question is?  If the scenario from 2009-2011 will returned and the gold will become a safe haven.Will see what's will happen. In the chart you see how the resistance line was broken.

In the next period  I see buying opportunities for gold on weekly time frame you should wait to retest the support line 1315,12
 after the retest of this level you can choose to enter with buy orders started with 1328  first profit target ,stop loss behind support level 1246.

After the price will reache the level 1315 the pattern which has been formed is a double bottom ,I recomend to no enter immediately with buying orders you shoul wait untill the price will retest the level  of 1431,89 and enter with buying orders started with 1452,78 and the second profit target will be near the next level 1548,38.
This is my personal view about what will happen with gold in the next period.A don't foreget invest in stocks,fx,commodities markets implies risks.