Tuesday, August 18, 2009

GOLD FALLS TO THE BOTTOM RED DOWN FLAG LINE AS THE EURO AND DOW DROP SOME


NEW TRENDLINES DRAWN PLUS RETRACE POINTS

GOLD DROPS TO THE 75% POINT AT THE BOTTOM RED DOWN FLAG LINE

GOLD FINDS SUPPORT ON THE WHITE UPTREND LINE SO FAR, EURO TURNING UP SLIGHTLY

EURO IS SLIPPING, GOLD TRADING ODDLY RIGHT NOW, MAY MOVE LOWER QUICKLY

15 MINUTE DOLLAR CHART (delayed prices)

THE RED DOWN FLAG RESOLVES UP

GOLD MOVES UP A LITTLE MORE ON 124 CONTRACTS

GOLD MOVES A BIT HIGHER

GOLD COULD CONSOLIDATE HERE FOR A MOVE HIGHER, OR PULL BACK BEFORE A RALLY

NEXT 75% POINT IS AT 94560 JUST UNDER THE NEXT TOP AT 94620

GOLD SUDDENLY SPIKES AT AN UNUSUAL HOUR


Gold moves above the 75% retrace point at 94240
Next top to exceed is at 94620

2:15PM PDST GOLD AFTERNOON CLOSE

15 MINUTE DOLLAR CHART (delayed prices)

THE LARGER PICTURE

15 MINUTE DOLLAR CHART (delayed prices)

EURO MOVES A BIT HIGHER, OIL STILL UP WELL, SHOULD PULL GOLD HIGHER


NEW RED DOWN FLAG LINES DRAWN, NOW UP TO 94240 (75%)

GOLD MOVES HIGHER WITH SOME PULLBACKS ALONG THE WAY

OIL AND EURO RISING RAPIDLY PULLING GOLD HIGHER

A FURTHER DROP ON LIGHT VOLUME AND A QUICK RALLY BACK UP


A PULL BACK DOWN TO 93830 AS EXPECTED, NOW A RALLY

15 MINUTE DOLLAR CHART (delayed prices)

GOLD HASN'T BEEN BASHED MUCH TODAY AND HAS STAYED INTHE BLUE UPTREND CHANNEL


Gold will probably rise after the Crimex close and in
overnight trading.

THE RED FLAG HOLDS AND GOLD MAY NOW MOVE HIGHER

GOLD PULLS A HEAD FAKE RALLY THEN GAPS DOWN TO THE 1ST 75% RETRACE POINT, WILL IT GO LOWER?

WITH DOLLAR FALLING, GOLD MAY DIP TO 93830 THEN RALLY HIGHER

15 MINUTE DOLLAR CHART (delayed prices)

15 MINUTE DOLLAR CHART (delayed prices)

GOLD MAY BE MOVING HIGHER OUT OF THE RIGHT SHOULDER OF AN INVERSE H and S PATERN WITH 356 AS THE HEAD


A normal pull back here, then higher?

GOLD VOLUME STARTS GOOD THEN FADES AS USUAL LATELY


GT GETTING SOME SLEEP AFTER BEING UP TWO NIGHTS IN A ROW


Gold not doing much right now. Made a nice gradual move up
last night up the white up trend channel, then fell out of it
just as I couldn't stay awake any longer.
This market has me baffled. I can't predict anything so I'm
keeping my powder dry until I'm sure we have a good bottom
put in. I still fear a huge drop before the big rally for the
rest of the year and maybe more.