Wednesday, September 9, 2009
GOLD PRICE IS FAR ABOVE ALL THE MAs
The tendency is for the MAs to find EQUILIBRIUM
near the average. It would not be unusual for
the gold price to move down to the averages
as the averages move up to meet the price to
create equilibrium.
DECEMBER IS NOW THE FRONT MONTH FOR CURRENCY CONTRACTS
Euro
Dollar
Yen
All now DECEMBER FRONT MONTH
All other currencies are also December contracts
T BONDS ARE ALSO DECEMBER FRONT MONTH
DOW AND S&P ARE STILL SEPTEMBER
Dollar
Yen
All now DECEMBER FRONT MONTH
All other currencies are also December contracts
T BONDS ARE ALSO DECEMBER FRONT MONTH
DOW AND S&P ARE STILL SEPTEMBER
GOLD DROPS BELOW THE 75% POINT AND MAY BOTTOM HERE
It would be unlikely for gold to drop severely
from this area. This is just a late sell off to paint
the chart at the end of the Crimex session.
Gold should rally in afternoon and overnight
trading. The dollar appears to be beyond recovery
even with guv'mint intervention
BLUE TREND LINES REDRAWN AS GOLD MOVES NEARER THE 75% RETRACE POINT AT 99660
Other markets are correcting and once again
becoming supportive to gold.
Euro, Stocks, Oil moving higher after pulling back
after a good run up.
Dollar still near its new lows but rallying slightly
VERY LITTLE TIME TO POST TODAY, LOTS OF TRADING OPPORTUNITIES TAKING UP MY TIME
Lots of big swings, easy to trade.
So, I'm taking advantage of it.
So, I'm taking advantage of it.
GOLD SHOULD RISE FROM HERE WITH DOLLAR SINKING AND ALL MARKETS BUT EURO SUPPORTIVE OF HIGHER GOLD
Euro forming a down flag that should resolve up
but currently is weighing on gold
WILL GOLD BREAK UP AND OUT OF THIS WHITE DOWN TREND CHANNEL?
I was up all night. Just before the Crimex open
I 'rested my eyes'...fell asleep for two hours.
At least gold didn't take off for the moon while
I was asleep.
Subscribe to:
Posts (Atom)
