End of Crazy Rise of Gold? (12-12-2009 Gold analysis)

Being in Final Examination period, I could hardly squeeze some time to do analysis and post it on blog. After a whole day of study, I finally manage to find some spare time to analyze Gold. In the past week, dollar rose and commodities like oil and gold dropped. Does it signal the end of the crazy rise of Gold? Let's see the below price of gold.



You can see there are three triangles. The projection bases on the large rise at the first triangle. After breaking through 61.8% line at 1181.6, it seems that the momentum is weakened and it fell, breaking the 50% line and heading to 38.2% line at 1089.2. I anticipate that the price of Gold would reach 1089.2 and fluctuates slightly around this price. Moreover, Treasury Yield Curve steepens by an increase in 10-year and 30-year bond yield. Short term rates are still maintained as low as possible, dollar does not have much signal to rise in short period. So there are no significant evidence to prove that the crazy rise in price of Gold has come to an end.