Wednesday, July 22, 2009

TODAY'S GOLD TRADING

2:15PM PDST AFTERNOON GOLD CLOSE

THE LARGER PICTURE OF SHOWING GOLD ABOUT TO MOVE MUCH HIGHER


THIS MAJOR YELLOW DOWNTREND CHANNEL WILL RESOLVE UPWARDS VERY SOON TAKING GOLD TO, AND ABOVE, $1000


The PINK downtrend channel is the ORIGINAL channel
that was broken above on 7/14


The top yellow line is based on today's high and the Intermediate

high at 9921. This downtrend line has already been exceeded

many times, based on earlier highs that have been surpassed,

as gold has been rising, and is only the latest version

of it as recent highs keep getting higher. I only put it in

to show you the most major downtrend channel so you can

see that gold has been pushing higher since the low at 9048

made over a week ago

GOLD IS DRIBBLING AWAY IN AFTERNOON TRADING, EXPECT HIGHER GOLD OVERNIGHT, BUT A SELL OFF BEFORE THE CRIMEX OPEN TOMORROW


GOLD FALLS THROUGH THE WHITE UPTREND LINE, MAY GO DOWN TO 94840 (75%)





RED DOWN FLAG SHOULD RESOLVE HIGHER SOON AS DOLLAR COLLAPSES


DOLLAR DROPS EVEN FURTHER


DOLLAR SLIPS LOWER AGAIN


JUST BEFORE THE CRIMEX CLOSE


DOLLAR DOWN TO .7876, EURO STILL RISING ON ITS HIGHS


GOLD MAY RISE INTO THE CRIMEX CLOSE OR AFTER
IT IN AFTERNOON TRADING

DOLLAR STILL DROPPING, GOLD SHOULD RISE


DOLLAR HITS ANOTHER LOW AT .7873


DOLLAR PLUMMETS, GOLD SHOULD SPIKE HIGHER AFTER THIS PULLBACK


ONE HOUR CHART FOR PERSPECTIVE



GOLD PULLS BACK TO THE YELLOW DOWNTREND TOP LINE JUST EXCEEDED, MAY FIND SUPPORT THERE


GOLD IS TESTING THE TOP AND SHOULD BREAK THROUGH SOON


GOLD ABOUT TO SPIKE


GOLD CONSOLIDATING IN THE NEW RED DOWN FLAG...IS A SPIKE COMING?


GOLD COULD SPIKE TO 97030 (75%) OF THE ENTIRE MAJOR DOWN LEG FROM 99210


GOLD RISING AGAIN, COULD SPIKE HIGHER


GOLD IS CONSOLIDATING WITHIN THE RED DOWN FLAG AND SHOULD RESOLVE UP


GOLD PULLS BACK TO THE BOTTOM RED DOWN FLAG TRENDLINE


DOLLAR DROPPING AGAIN


DOLLAR FALLS


HOURLY CHART FOR PERSPECTIVE



THE DOWN FLAG BEING FORMED RESOLVES UP... UNLESS GOLD COLLAPSES, OF COURSE!


Dollar falls to .78925

GOLD COULD CONSOLIDATE HERE AND MOVE HIGHER OR PULL ALL THE WAY BACK DOWN


GOLD RISES ABOVE THE YELLOW TOP DOWNTREND CHANNEL LINE AND THE 75% RETRACE POINT AT 95260


Dollar is moving lower

GOLD IS GOING TO SPIKE HIGHER NOW


GOLD FINDS SUPPORT AND BOLTS HIGHER


GOLD TRADING CALMS DOWN BUT IS STILL TRADING IN WAVES WITH A CURRENT TREND HIGHER IF THIS LAST LEG DOESN'T MAKE A LOWER LOW


DOLLAR MOVES BACK DOWN


THE LARGER VIEW OF RECENT TRADING


Bernanke is speaking to Senators today

GOLD PAUSES AT THE 75% POINT AND PULLS BACK




GOLD STARTS BACK UP ON LIGHT VOLUME


GOLD SLIPS A BIT LOWER ON LIGHT VOLUME


NOW THE DOW, OIL AND EURO ARE TURNING LOWER

QUITE A WILD RIDE THIS MORNING, NO?

DOLLAR PULLS BACK AFTER WHAT HAD TO BE A PPT INDUCED RALLY


GOLD PULLS BACK ON LIGHT/MODERATE VOLUME ON PROFIT TAKING AFTER A BRISK RALLY