Gold projection up to 5800Gold FuturesCOMEX:GC1!HowToChartThe fundamentals: First, the US economy is currently in a phase called Stagflation. This means the economy is growing very slowly (only 1.4 percent), but prices for everything are still going up (over 3 percent inflation). Gold is the classic "insurance policy" for this exact situation, so investors are flocking to it. Second, the old rule that a strong US Dollar kills Gold is breaking. Even though the Dollar is still strong, Gold prices are staying high. This shows that people are more worried about protecting their wealth than they are about what currency is doing. Third, there is a massive "floor" under the price because of buyers in China and India. Regular people there are buying physical gold at record rates, even paying extra fees just to own it. Every time the price of Gold drops a little, these buyers jump in and push it back up. Finally, Central Banks around the world are still buying huge amounts of Gold to move away from the US Dollar. They are essentially acting as a giant safety net for the market. Fundamentals Summary: Expect a "buy-the-dip" market. If Gold prices drop briefly, big buyers will likely step in quickly to push them back up. The general trend looks positive. The Chart: Price had a lot of trouble climbing above the Centerline. Finally it was cracked and the following Candle-Lows whre bought by the big Whales in the market. If todays Candle is closing positive, maybe even above the high of yeterday, I'm very positive that pirce will not fall again below the CL in the coming weeks. If you liked this post, feel free to give it a boost. Thanks for the support.