Thursday, October 29, 2009
GOLD PULSES HIGHER ON ABOUT 350 CONTRACTS BREAKING OUT OF THE WHITE DOWNTREND CHANNEL/CONSOLIDATION
5 MINUTE DECEMBER DOLLAR CHART (delayed prices)
WHITE DOWNTREND CHANNEL/DOWNFLAG RESOLVES UP, BUT SMALLER RED UPFLAG RESOLVES DOWN
GOLD HAS RALLIED STRONGLY 2/3s OF THE WAY BACK UP THE BIG SELL OFF
AND IS CONSOLIDATING HERE FOR A MOVE HIGHER.
HOWEVER, THE SHORTS COULD POUND IT BACK DOWN AT ANY TIME.
SO FAR, THE DOLLAR'S FALL BACK DOWN SHOULD SUPPORT HGHER GOLD
AS HAS THE TRADING OF THE EURO, OIL AND STOCKS TODAY ALONG WITH
BONDS AND THE YEN BY MOVING LOWER.
STOCKS APPEAR TO ONLY BE IN A 'BEAR RALLY' WHICH SHOULD RESOLVE DOWN
MUCH FURTHER, ALTHOUGH CHEAP 'INFLATIONARY PAPER MONEY' PUTS UPWARD
PRESSURE ON STOCKS. DOWN WILL WIN IN THE LONG RUN.
HOURLY CHART OF THE EURO (delayed prices)
GOLD HITS THE 75% RETRACE POINT AND PULLS BACK
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