Monday, January 18, 2010

GOLD MOVES HIGHER ON STRONG VOLUME TO THE TOP BLUE LINE OF THE UPTREND CHANNEL




GOLD MOVES RIGHT BACK UP ON LIGHT VOLUME


GOLD RALLIES TO THE 75% RETRACE POINT THEN FALL QUICKLY AS THE EURO DROPS


GOLD MAY MOVE UP FROM HERE, ESPECIALLY AS WE GET CLOSER TO 11PM PST WHEN THE FOREIGN MARKETS KICK IN


GOLD DROPS BELOW THE YELLOW DOWNTREND CHANNEL




GOLD SLIPS LOWER AS EURO AND STOCKS ALSO WEAKEN


THE YELLOW DOWNTREND CHANNEL SHOULD RESOLVE UP


GOLD WILL BECOME MORE ACTIVE CLOSER TO 11PM PST
WHEN THE FOREIGN MARKETS KICK IN.
AS THE DOLLAR IS LOWER, EXPECT GOLD TO RISE
OVERNIGHT UNLESS THE GOLD BASHERS MOVE IN
IN ADVANCE

GOLD WORKS HIGHER SLOWLY


EURO RISES, SO GOLD FOLLOWS IS HIGHER


GOLD MAY TURN UP HERE


EURO STARTING TO FALL FAST, GOLD IS FOLLOWING IT LOWER


GOLD DROPS AS STOCKS, OIL, EURO MOVE DOWN


GOLD DROPS TO THE 75% RETRACE POINT WHICH
ALSO COINCIDES WITH THE WHITE TOP LINE OF THE
DOWNTREND CHANNEL THAT WAS JUST EXCEEDED
WHERE SUPPORT SHOULD BE FOUND

GOLD MAY FALL A BIT HERE WITHING THE RED DOWN FLAG, THEN RESOLVE HIGHER




MONDAY TRADING SO FAR




TRADING SINCE THE SUNDAY OPEN


THE LARGER PICTURE


THE WHITE DOWNTREND CHANNEL IS ALSO
A LARGE DOWN FLAG THAT RESOLVES UP

GOLD MOVES ABOVE THE WHITE DOWNTREND CHANNEL


10:15AM PST HOLIDAY GLOBEX GOLD CLOSE


GOLD HITS THE 75% RETRACE POINT AND PULLS BACK WITH 45 MINUTES BEFORE GLOBEX CLOSES


GOLD MOVES BACK UP TOWARDS THE 75% RETRACE POINT


GLOBEX GOLD TRADING CLOSES AT 1:15PM EASTERN TODAY AND REOPENS AT 5PM EASTERN TODAY ONE HOUR EARLIER THAN USUAL

GOLD TRADING SHOULD START TO BECOME MORE ACTIVE
THIS EVENING AND OVERNIGHT AS OTHER MARKETS REOPEN
FOR REGULAR TRADING

GOLD STILL TRENDING LOWER WITHIN THE BLUE DOWNTREND CHANNEL


EURO MOVING LOWER, GOLD FOLLOWING


GOLD TRADING BECOMING ERRATIC AND DIRECTIONLESS


GOLD PULLS BACK


LOOKS LIKE GOLD IS GOING TO HIT THE 75% RETRACE POINT, BUT WILL IT PULL BACK FROM THERE OR JUST CONSOLIDATE AND GO HIGHER?


GOLD RALLIES STEADILY, NOW A PULL BACK OR A CONSOLIDATION AND THEN HIGHER?




GOLD MAY MOVE A LITTLE LOWER BEFORE ANY GOOD RALLY TAKES PLACE


GOLD MOVES LOWER


THE BULLION BANKS ARE TAKING ADVANTAGE
OF A THIN HOLIDAY MARKET TO DRIVE GOLD LOWER

GOLD TRADING VERY LIGHT, VOLUME MOSTLY IN SINGLE DIGITS


VERY QUIET GOLD OPEN, BASICALLY JUST A CONTINUATION OF OVERNIGHT GLOBEX TRADING


GOLD DROPS BELOW THE THIN WHITE UPTREND CHANNEL'S LOWER LINE BUT STILL WITHIN THE RED DOWN FLAG


GOLD TRADING VOLUME SHOULD BE MUCH THINNER
THAN USUAL, BUT GOLD COULD STILL MAKE SOME
WILD MOVES.
MANY MARKETS ARE NOT OPEN TODAY MAKING IT
DIFFICULT TO GET DATA OR POST CURRENCY CHARTS
AS FUTURESOURCE IS CLOSED TODAY AND NOT UPDATING
THEIR CHARTS

GOLD STARTS TO SLIP LOWER AHEAD OF THE CRIMEX OPEN



GLOBEX IS THE MAIN TRADING PLATFORM TODAY
AS THE CRIMEX PITS MAY BE CLOSED

GOLD HAS TO MOVE ABOVE THE WHITE DOWNTREND LINE TO REACHE THE 75% RETRACE POINT AT 1141.6


GOLD HAS RISEN $10 SINCE THE SUNDAY OPEN


THE LARGER PICTURE




GOLD RISES TO THE 75% POINT AND CONSOLIDATES, MAY GO HIGHER


1:22AM PST MONDAY


GOLD MAY MOVE A LITTLE LOWER IN THE RED DOWN FLAG BEFORE BREAKING UUP AND OUT OF IT