COMEX GOLD HEAD SHOULDER PATTERN OF US $85? BELOW 1060 FREE FALL?

ABOVE CHART IS COMEX GOLD.


watch carefully it has formed head and shoulder pattern
height of head to neckline is 85/86 point(1161-1075)
now if break and close below 1060 with volume it will slide to 1020/990 and even to 975 levels!


IS THIS IS FIRST SIGN OF BIG HEDGE FUND IS PLANING TO LIQUIDATE (sell) ?

HEDGE FUND WILL MOVE FROM GOLD TO EMERGING MARKET(INDIA)

           If Free fall continues in gold prices then this could prove to be a positive for emerging markets like India. The HEDGE FUNDS will divert their gold position into emerging markets. ALWAYS REMEMBER MONEY MOVES FROM ONE ASSET CLASS TO ANOTHER ASSET CLASS. And this could be emerging markets after gold scenario.