Wednesday, July 29, 2009

GOLD HAS HAD THREE SUCCESSIVELY HIGHER LOWS, BUT THE SHORT TERM WHITE UPFLAG RESOLVES DOWN


The blue down flag, a more superior pattern resolves up.
As long as the white up flag lower line isn't violated, then
the blue down flag could begin to look weak.
Euro is weak, Dollar is higher
All appears due to the usual manipulation at the Crimex
Gold could move lower after such a big sell off yesterday.
On the other hand, gold is a bargain right now and may
attract buyers on this dip. We'll just have to wait and see
what happens.