Gold Update - 8/14/09

Gold is acting weaker then expected and may go down into an E wave low next week. The price target for an E wave low is in the 91-92 area. It is still looking bullish longer term and is also entering a seasonally strong time of the year. See below for current wave count labeling. The previous post looking for a D wave top near the June high price is still possible but is looking less likely.