Monday, September 7, 2009
GOLD APPROACHES THE YELLOW TOP UPTREND CHANNEL LINE WHERE IT MIGHT TURN DOWN
Top lines of uptrend channels are not as
suppressive as top lines of DOWNtrend channels
GOLD BREAKS OUT HIGHER ON STRONG VOLUME
Stocks and Euro are NOT confirming this up move
in gold so far.
GOLD MIGHT PULL BACK FURTHER BEFORE MOVING HIGHER
We are approaching overnight trading when the
foreign markets become more active, It is entirely
possible for gold to spike BIG TIME in the next hour
or two, but any spike should fall back almost immediately
on profit taking and suppression of the gold price by the
usual suspects.
GOLD MAY GO HIGHER BUT VOLUME IS LOW
Other markets are NOT confirming this move up
in gold, BUT... gold will do what it must do to
equalize the inflationary increase in paper money.
GOLD HITS $1000 THEN PULLS BACK ON LIGHT VOLUME
The white down flag resolves up, but this is a
tricky time of day to think gold will move up
strongly. It could be a good opportunity though, during
light holiday trading, for major players to sneak
into gold before it skyrockets higher.
REMEMBER...ONLY BUY GOLD ON WEAKNESS, SELL ON STRENGTH
THIS IS A CARDINAL RULE...
UNLESS YOU WANT TO KEEP BUYING THE TOPS
UNLESS YOU WANT TO KEEP BUYING THE TOPS
GOLD BREAKS ABOVE THE WHITE TRADING RANGE, EXEEDS THE BLACK MAJOR DOWNTREND LINE
LOTS OF SELLERS UP TO 1000, BUT GOLD
COULD BLAST RIGHT THROUGH THEM.
999.50 IS THE PREVIOUS HIGH TO EXCEED
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