Posted originally on Aug 10, 2012 by Martin Armstrong |  

Will have an update this weekend on gold. This week has been pushing higher within the broad trading range, but the buy signal would require a close above 1671. We may see the highest weekly closing for this range in several weeks. However. this is the turning point and the next three weeks should be the start of higher volatility. A high this week implies a low thereafter and if we make a new low for this range at that time, then we can see a rally following the next turning point.