We'll have to wait for the overnight markets
to move gold.
Monday, August 10, 2009
GOLD DOESN'T SEEM TO WANT TO LEAVE THIS TRADING RANGE FOR NOW
We'll have to wait for the overnight markets
to move gold.
GOLD MOVES UP A BIT, BUT BE CAREFUL AS GOLD DOES NOT APPEAR STRONG RIGHT NOW
READ THE ARTICLE I POSTED TONIGHT ON
GOLDTRADER'S COMMENTS THAT FASTGT
PROVIDED THE LINK TO.
GOLD STARTS TO WEAKEN APPROACHING THE CRIMEX CLOSE
Dow, Oil, Euro moving lower
Bonds higher
Dollar near its highs
GOLD RALLIES ON LIGHT VOLUME, BUT STEADILY
So close to the Crimex close, gold could sell off
due to its lack of strength on any up move since
the sell off at the start of the session.
GOLD MAY MOVE LOWER
Volume on this 75% sell off is moderate
Euro moving lower
Oil and Dow moving a bit higher
Very confusing markets
NO ROOM FOR ANY PROFIT TO BE MADE TRADING GOLD TODAY
The trading range and speed of reversals leaves
no room for profitable trading this morning.
The only profitable move today was the sell off,
and Sinclair recommends to NEVER short gold,
unless you want to see your life pass before your
eyes in a flash when gold explodes for whatever
reason, of which many could occur at any time.
GOLD MOVES UP ON LIGHT/MODERATE VOLUME, BUT IS NOT WELL SUPPORTED TO CONTINUE HIGHER RIGHT NOW
Gold moves require good volume to be convincing.
Don't ever rely on a gold move just because of speed
and direction...good volume is needed too.
GOLD FORMS A WIDE LEDGE TO FALL FROM
No discernible direction appears in the Indicator
markets for now, just erratic trading within ranges.
Nothing here to bet your money on that is anything
but a gamble
GOLD TRADING VERY ERRATICALLY, VERY DIFFICULT TO SEE A DIRECTION FOR NOW
I would error on the side of gold getting knocked
down to the 75% retrace point near 93920
GOLD SUDDENLY FALLS ON FAIRLY STRONG VOLUME TO THE 75% POINT AST 94550
The dollar is slipping lower
Euro is moving lower
Oil turns down
Bonds moving lower
GOLD PULLS BACK AS THE DOLLAR INCHES HIGHER
The white up flag resolves down.
Gold may yet hit the last 75% retrace point
at 93920
The yellow lower downtrend line has been redrawn
to include today's new low.
GOLD MOVES A LITTLE HIGHER BUT THE VOLUMES ARE NOT STRONG ENOUGH TO INDICATE A SPIKE IS NEAR
Oil is moving up strongly, the other Indicator
markets are fairly quiet.
This sell off in gold has shaken traders and will
take a little time to settle before buyers will move
back in
GOLD IS FORMING A LEDGE TO FALL FROM, OR IT COULD BE BUILDING A BASE TO RISE FROM
The dollar has formed a flag and could move higher
The Euro has fallen out of its long down flag previously
and has now fallen out of its little up flag as it should have.
ONE LOWER 75% POINT TO HIT AT 93920 IS POSSIBLE
The entire up move started at 92760 up to 97430.
The blue uptrend channel has been violated.
Next uptrend channel bottom line is BLACK
and is the MAJOR uptrend bottom line
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