Wednesday, January 6, 2010

GOLD STILL NOT SHOWING ANY REAL UPWARD STRENGTH




15 MINUTE MARCH 2010 DOLLAR CHART (delayed prices)



DOLLAR UP, GOLD DOWN

YEN PLUMMETS, EURO OFF TOO, GOLD FOLLOWS


IT'S GOING TO BE INTERESTING TO SEE WHICH WAY GOLD MOVES AS WE APPROACH THE TIME PERIOD WHEN THE FOREIGN MARKETS MAKE THEIR MOVE APPROACHING 12AM PST


DAILY CHART OF MOVING AVERAGES


THE 10 DAY MA IS ABOUT TO CROSS BACK UP OVER
THE 20, 40 AND 50 DAY MAs AS GOLD MOVES BACK
UP TO NEW HIGHS

GOLD SHOWING NO UPSIDE STRENGTH FOR NOW


GOLD MAY NOT MAKE ITS UPMOVE UNTIL CLOSER TO MIDNIGHT PST WHEN THE FOREIGN MARKET GETS ACTIVE


IS GOLD TRYING TO MOVE HIGHER HERE, OR IS THIS A FAKE OUT?


GOLD IS NOT MOVING WITH DISCERNIBLE FORCE
IN EITHER DIRECTION, ESPECIALLY UP, ENOUGH
TO PREDICT WHAT IT'S GOING TO DO FROM HERE
SO FAR, IT'S JUST DRIBBLING LOWER

5 MINUTE MARCH 2010 DOLLAR CHART (delayed prices)


DOLLAR MOVES OFF ITS LOW A BIT

GOLD MOVES LOWER SLOWLY AND FORMS A LEDGE TO FALL FROM NEAR THE 75% RETRACE POINT


5 MINUTE MARCH 2010 DOLLAR CHART (delayed prices)


WILL GOLD HIT THE 75% RETRACE POINT?


STOCKS, OIL, EURO, YEN ALL MOVING LOWER

5 MINUTE MARCH 2010 DOLLAR CHART (delayed prices)


DOLLAR FALLS, BUT SO IS GOLD AND THE EURO TOO
WTF?

EURO FALLING, GOLD FOLLOWS


GOLD SLIPS LOWER EVEN THOUGH DOLLAR IS FALLING


EURO FALLING TOO

5 MINUTE MARCH 2010 DOLLAR CHART (delayed prices)


DOLLAR DROPS DRAMATICALLY

GOLD CONTINUES ITS DOWNTREND, BUT HOW FAR DOWN WILL IT GO?



FIRST SUPPORT AREA WOULD BE AT THE INTERSECTION
OF THE 75% RETRACE POINT AND THE LOWER DARK PINK
LOWER UPTREND CHANNEL LINE

EURO, OIL, STOCKS MOVE LOWER A BIT, GOLD FOLLOWS BUT MAY STAY WITHIN THE RED DOWN FLAG AND THEN RALLY HIGHER


HARD TO TELL WHAT GOLD WANTS TO DO HERE




EURO FALLING, GOLD MAY FALL BELOW THE RED DOWN FLAG


GOLD JUMPS ON 566 CONTRACTS THEN PULLS BACK QUICKLY


GOLD WILL PROBABLY 'STAIR STEP' HIGHER FROM HERE


GOLD IS APPROACHING A MAJOR RESISTANCE AREA
AROUND 1145 TO 1150 ACCORDING TO DAN NORCINI
(see JSMineset.com). BUT, GIVEN TRADING SINCE
MONDAY, IT APPEARS THAT GOLD IS HEADED BACK UP
STRONGLY AND COULD BREAK THROUGH THAT RESISTANCE
IN ONE OR TWO DAYS AND MOVE HIGHER RATHER BRISKLY.

2:15PM PST AFTERNOON GOLD CLOSE


15 MINUTE MARCH 2010 DOLLAR CHART (delayed prices)


DOLLAR FALLS MORE, GOLD RISES

ANOTHER PUSH HIGHER




EURO MAKING NEW HIGHS, GOLD MAY RISE FURTHER TO THE NEXT HIGH


EURO, STOCKS MOVING BACK UP, GOLD MAY FOLLOW


15 MINUTE MARCH 2010 DOLLAR CHART (delayed prices)


GOLD MOVES UP TO THE YELLOW UPTREND CHANNEL TOP LINE, MAY PULL BACK A GOOD DEAL HERE


OIL PLUMMETS FROM ITS HIGH
EURO, STOCKS MOVING DOWN

GOLD CLIMBS HIGHER




GOLD SPIKES HIGHER ON STRONG VOLUME



GOLD BREAKS OUT OF THE RED DOWN FLAG AND CONSOLIDATES, COULD MOVE HIGHER


EURO MAKING NEW SESSION HIGHS, GOLD FOLLOWING

5 MINUTE MARCH 2010 DOLLAR CHART (delayed prices)


SHORT TERM HEAD AND SHOULDERS PATTERN FORMS, RESOLVES DOWN


TAKING IT ALL BACK NOW?


GOLD MAKES A LOWER HIGH AND DROPS


STOCKS, EURO FALLING FASTER

ANOTHER HIGH ON STRONG VOLUME BUT ONLY TO THE BLUE TREND LINE, NOW PULLING BACK, A TOPPING PATTERN


TYPICAL TOPPING PATTERN WHEN LATE COMERS
JUMP IN AT THE TOP ONLY TO SEE GOLD FALL BACK
ON PROFIT TAKING
STOCKS, EURO, OIL ALL PULLING BACK

STARTING TO LOOK LIKE GOLD WILL TAKE IT ALL BACK



STOCKS STILL RISING, EURO PULLING BACK AFTER
RISING GRUDGINGLY

THE LARGER PICTURE


LOTS OF 75% RETRACE POINTS BETWEEN HERE
AND THE ONE SHOWN COMPUTED OFF OF THE LOW
AND EACH HIGH ON THE LEFT OF THE CHART

GOLD MAKING HIGHER HIGHS NEAR THE BLUE TOP UPTREND CHANNEL LINE, MAY PULL BACK HERE


MODERATE VOLUME GOING NEGATIVE OFF THIS HIGH



GOLD STOPS AT THE THIN BLUE TOP UPTREND CHANNEL LINE, EURO NOT RISING, STOCKS ARE RISING SOME


GOOD VOLUME ON THE RALLY BUT ITS POOPING OUT
NOW. GOLD IS NOT MOVING DOWN YET, BUT MAY

GOLD RALLIES ON THE OPEN BUT STALLS AT THE 75% RETRACE POINT



EXPECT A GOOD PULL BACK HERE BEFORE ANY
BIG RALLY,
IF ANY IS TO COME

15 MINUTE MARCH 2010 DOLLAR CHART (delayed prices)


ON THE CRIMEX OPEN