Sunday, December 13, 2009
GOLD BREAKS OUT ABOVE THE WHITE DOWNTREND CHANNEL AND ABOVE THE BLUE UPTREND CHANNEL BUT ON LIGHT VOLUME
WILL GOLD FIND SUPPORT ON THE TOP BLUE
UPTREND CHANNEL AND MOVE EVEN HIGHER, OR
PULL BACK BEFORE MOVING HIGHER?
STOCKS, EURO MOVED UP DRAMATICALLY AND
OIL MOVED UP WELL ALSO.
BONDS, YEN MOVED LOWER
ALL SUPPORTIVE TO HIGHER GOLD
EURO, STOCKS, OIL MOVING DOWN, YEN RISING, BONDS SORT OF FLAT
NOT SUPPORTIVE OF HIGHER GOLD RIGHT NOW
GOLD TESTING THE HIGH
GOLD SHOULD BREAK OUT HIGHER, BUT VOLUME
IS WEAK AND THE LONGER IT STAYS HERE, THE
MORE LIKELY IT IS TO PULL BACK HARD
GOLD HAS TO BREAK ABOVE 1122.70 TO GET TO THE LAST 75% RETRACE POINT AT 1135.10
UP VOLUME IS NOT THAT INCREDIBLE, BUT GOLD
DOES MOVE UP GRADUALLY ON LIGHT VOLUME.
JUST BE PREPARED TO TAKE YOUR PROFITS WHEN
GOLD APPEARS TO STALL
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