Thursday, July 30, 2009

GOLD PULLS BACK AS TRADER'S BECOME IMPATIENT FOR GOLD TO MOVE HIGHER, WON'T LAST



GOLD SHOULD HOLD HERE AND MOVE UP WITHING THE RED DOWN FLAG AND EVENTUALLY BREAK OUT HIGHER


5 MINUTE DOLLAR CHART


GOLD NEEDS TO MOVE ABOVE 94330


GOLD CONSOLIDATING BUILDING ENERGY TO MOVE HIGHER




GOLD PULLS BACK BEFORE MOVING HIGHER


Dow and Oil appear to be topping
Bonds bottoming after taking the whole up move back
Dollar slipping lower

5 MINUTE DOLLAR CHART


HOLD ON TO YOUR HAT, GOLD IS GETTING READY TO SPIKE



94860 IS THE TARGET




5 MINUTE CRUDE OIL CHART


5 MINUTE EURO CHART


GOLD MAKES A NEW HIGH ON MODERATE VOLUME


5 MINUTE BOND CHART


DOLLAR IS ALL OVER THE MAP TODAY, UP, DOWN, UP, DOWN


GOLD CONSOLIDATING WELL AT A HIGH LEVEL


GOLD NEEDS TO FIND SUPPORT ON THE TOP RED DOWN FLAG LINE


BONDS PLUNGE, GOLD MAY BE READY TO SPIKE HIGHER


Volume is the big problem here...it's too light

5 MINUTE DOLLAR CHART


GOLD RALLIES WELL TO THE TOP 75% RETRACE POINT MAKING A NEW HIGH IN THE PROCESS




Dollar moves higher

The other Indicator markets remain supportive

to gold

GOLD MOVES BACK UP ON LIGHT VOLUME


A QUICK PULLBACK, THEN GOLD MOVES BACK UP


Oil and Dow pulling gold higher

GOLD CREEPING HIGHER ON LIGHT VOLUME


Gold is still very shakey here.
Don't bet the farm on an up move just yet
Dow up 115
Oil higher after a brief pull back
Yen turns down
Euro struggling to move up
Dollar moves back up to its previous high at .7955

5 MINUTE DOLLAR CHART


GOLD ALMOST COLLAPSES, BUT THE INDICATOR MARKETS ALL TURN POSITIVE FOR GOLD AT THE LAST SECOND


Euro turns back up
Yen down
Dow up
Oil up
Bonds down
Dollar slips lower a bit

RED DOWN FLAG IS VIOLATED BUT NOT TOO BADLY


Gold may find support at the 75% retrace point
at 9332

ONCE AGAIN GOLD DROPS EXACTLY TO THE NEW RED DOWN FLAG BOTTOM LINE AND HOLDS


GOLD STILL CONSOLIDATING HERE


GOLD RALLIES ON MODERATE VOLUME


Euro turns down
Yen turns up steadily
Dollar a bit lower
Oil, Dow turn down

VERY INTERESTING HOW GOLD DROPS EXACTLY TO THE BOTTOM RED DOWN FLAG LINE AND STOPS, HUH?


RED DOWN FLAG SHOULD RESOLVE HIGHER


GOLD STILL CONSOLIDATING HERE


Dollar has stair stepped a little higher
Oil moves higher
Yen on its lows
Euro moving up
Bonds higher but very erratic
Dow off its highs, up 69

5 MINUTE DOLLAR CHART


IS GOLD CONSOLIDATING HERE BUILDING STRENGTH TO TAKE OUT 937?


Euro isn't helping, but Oil is
Bonds turn back up
Dollar slips a bit

GOLD PULLS BACK INTO A CONSOLIDATION


Bonds sink
Yen plummets
Euro turns up
Oil higher
Dow is up 80
Dollar seems steady around .7948

GOLD TAKES OFF BUT IS STOPPED AT THE PREVIOUS TOP


Volume is light but the movement is great for
trading...if you are very quick

GOLD RETRACES THE UP MOVE 75% ON LIGHT VOLUME


GOLD SPIKES ON 368 CONTRACTS, PULLS BACK ON 111, THEN RALLIES AGAIN ON ONLY 10 CONTRACTS


Wild movements in the Indicator markets due
to the Jobless Claims Report
Bonds sink
Dow jumps up
Yen plummeting
Euro still moving lower after a short rise
Dollar is higher at .7940 on my delayed prices

POSSIBLE RETRACEMENT POINTS ON THE WAY UP


JOBLESS CLAIMS REPORT ON THE HALF HOUR


THE CRIMEX OPEN



THE CRIMEX OPEN SHOULD BE INTERESTING


Yen falling rapidly
Euro in a decline but may find support here
Bonds jumping higher
Oil on the rise but pulling back a bit here
Dow up overnight
Dollar going sideways in a constricting triangle
that has to break out, but which direction?

5 MINUTE DOLLAR CHART


TREND LINES REDRAWN


Hopefully this isn't a Head&Shoulders pattern
or gold is going down.

5 MINUTE DOLLAR CHART


GOLD IS ACTING LIKE IT'S GOING UP...BUT?


GOLD SHOULD RISE FROM HERE AS THE DOLLAR HAS FALLEN


Dow and Oil are higher
Yen is down
Both supportive of gold rising
Bonds have been sliding lower since their
recovery after their big auction sell off.
This is good for gold too in two ways.
First, it means interest rates are up which is not
good for the economy and therefore good for gold
as a safe haven. And second, it means funds are
moving into gold rather than bonds as a safe haven.