Tuesday, December 1, 2009
EURO DROPS, GOLD FOLLOWS BUT NOT FOR LONG
GOLD CONTINUES TO SLIP.
WILL THE PREVIOUS WHITE DOWNTREND LINE BE SUPPORT?
THE RIGHT SHOULDER MOVES A BIT HIGHER BUT THE PATTERN IS STILL INTACT
WHICH PATTERN WILL PREVAIL?
THE RED DOWN FLAG
OR THE H&S PATTERN?
H&S PATTERN STILL INTACT
THE H&S PATTERN WON'T RESOLVE TOO FAR DOWN
AND WILL PROVIDE A GOOD BUY IN POINT
GOLD INCHES UP TO THE 75% RETRACE POINT ON DECENT VOLUME
GOLD IS RETESTING THE NEW HIGH, COULD JUST
BLAST THROUGH AGAIN TO NEW HIGHS
GOLD SPIKES TO ANOTHER NEW HIGH ON STRONG VOLUME CREATING ANOTHER 'STEP' IN THE SWISS STAIR PATTERN
GOLD SHOULD NOW STAY ABOVE THE $1200 SUPPORT LINE
STOCKS, OIL, EURO MOVING LOWER, YEN UP, GOLD SHOULD FALL
BUT DON'T EVER COUNT GOLD OUT
IT COULD SPIKE UP AT ANY TIME IF THOSE LARGE
ENTITIES MOVE IN TO ESTABLISH THEIR LONG TERM
POSITIONS AS THEY HAVE BEEN DOING TO CREATE
THE 'SWISS STAIR' PATTERN THAT WILL CONTINUE
AND EVENTUALLY GO PARABOLIC
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