GOLD – long term technical outlook

In my opinion, gold is going to move lower. How much lower, thats the case for technical projections to find out. My target for new long term lower low is somewhere between 1190 – 1050. I think that area would present a good area to buy and hold in a (2 – 5 years) horizon. As an investment vehicle I would use one of the ETF’s backed by gold. Exit would be around 2100 – 2500 with stops set tight below 2000 once strongly breached.

Let’s see.