Wednesday, August 5, 2009
GOLD RETESTS THE LOW TWO TIMES, IT HOLDS, NOW A RALLY HIGHER
Dollar has moved higher, but nothing dramatic
Dow off 112 and dragging gold down
Oil and Euro down too, but not for long
THE BULLION BANKS AND CRIMEX MANIPULATORS ARE POUNDING GOLD WITH ALL THEY'VE GOT, BUT WILL LOSE THE GAME
Bonds, Euro, Dow down
Yen up
Dollar steady
This is an excellent buy in point
GOLD GETS PUSHED DOWN TO A LOWER 75% RETRACE POINT, BUT IS RALLYING WELL NOW
A retest of the low, then higher
GOLD MOVING HIGHER AFTER A NORMAL PULL BACK, SHOULD MAKE A NEW HIGH SOON
A pull back, but gold rallies higher very quickly
A NORMAL PULL BACK AFTER HITTING THE TOP OF THE WHITE DOWN FLAG, A RALLY HIGHER SHOULD FOLLOW
Gold should turn higher from here.
GOLD RISES TO THE TOP WHITE LINE OF THE DOWN FLAG
Volume is still light at about 100 contracts/minute
which is okay, but not strong rally volume
Bonds falling
Dow and Oil rising
Euro building a base to move higher?
Yen moving down
All positive for gold
Dollar is higher, but has been running counter to gold
for days now, or is it the other way, gold counter to the dollar?
GOLD RISES QUICKLY TO THE 2nd 75% RETRACE POINT, MAY PULL BACK NOW, THEN GO HIGHER
Volume is a bit stronger, but still light/moderate
GOLD STRUGGLING HIGHER ON LIGHT VOLUME...BUT...
As soon as gold gets its feet moving, I think it
is going to rise gradually, then spike higher
GOLD RETESTS THE LOW AT 966, THIS IS A TYPICAL TRADING PATTERN FOR GOLD
It makes a slightly lower low, then rallies as
traders see that the base is holding.
Volume is still too light for a good rally, so
gold may go lower
DOLLAR MAY GO LOWER, RIGHT NOW IT'S BUILDING A LEDGE TO FALL FROM
If not, it's building a base to rise from.
But the Indicator markets are turning down
right now.
Dollar is just above its lows. Currently at .77705
Gold seems like it's holding the base, but volume
is very light.
6 MINUTES BEFORE THE CRIMEX OPEN, GOLD IS BARELY MOVING AS THE DOLLAR SLIPS LOWER
Bonds, Yen, Euro, Oil turning lower
DOLLAR IS DOWN, SO GOLD SHOULD RISE SOON
Why it hasn't done so already, I don't know.
We had a small run up earlier that didn't continue
so there might be a good deal of selling pressure
by the shorts working to keep gold from spiking
today.
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