Wednesday, July 15, 2009

HARD TO PREDICT THE NEXT DIRECTION FOR GOLD

You can be sure the shorts will want to hit gold hard before, or on, the Crimex open
The spike high is an 'outlier' in relation to the down flag created right after it
was made and distorts the computations of the fibs using just the down flag
high and low. I show the retrace points using the ultimate high at 9377 for now.
I will wait for a big pull back before buying in to this market.