Tuesday, August 11, 2009
GOLD IS GOING ABSOLUTELY NOWHERE RIGHT NOW
The small moves and lack of any discernible
direction in gold from moment to moment
makes it foolish to trade right now.
Don't be starved for trading action and impulsively
trade just to do something. WAIT...a major move
in gold is going to happen soon. Save your ammo
to trade it. It will make you rich beyond your
wildest dreams if you play it right.
GOLD HOVERING UNDER THE 75% RETRACE POINT AT 94980 TRADING IN LIGHT VOLUME
Euro moving up
Dow, Oil turn higher
Dollar slipping lower, currently at .7924
But I don't see gold shooting higher right now
on any strength.
DOW FALLING FURTHER, NOW DOWN 117
BONDS SUDDENLY PLUNGE, BUT QUICKLY RALLY
MAY CONTINUE LOWER
Euro moves higher
Dollar slips lower, currently at .79385
MAY CONTINUE LOWER
Euro moves higher
Dollar slips lower, currently at .79385
GOLD MOVES ABOVE THE RED UPTREND LINE A BIT, BUT NOT STRONGLY
Euro turns up, but the rest of the Indicator
market are still not supportive of gold
Dollar is consolidating at its highs, currently at .7944
GOLD RALLIES AFTER A SUBSTANTIAL DROP, BUT HAS NO BASIS FOR MOVING HIGHER RIGHT NOW WITH THE INDICATOR MARKETS BEING NON-SUPPORTIVE
New downtrend channel lines drawn. Gold hits
resistance at the red uptrend channel bottom line.
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