Monday, January 4, 2010
GOLD BREAKS OUT AT MIDNIGHT PST
GOLD SPIKES ON 1500 CONTRACTS BUT PULLS BACK
QUICKLY ON PROFIT TAKING. MAY CONSOLIDATE AND
MOVE HIGHER BUT HAS SURPASSED THE 75% RETRACE POINT
Sunday, January 3, 2010
THE LARGER PICTURE
GOLD NEEDS TO MOVE ABOVE THE PURPLE DOWNTREND
CHANNEL TOP LINE AND THE NEXT 3 HIGHS SHOWN
5 MINUTE MARCH 2010 DOLLAR CHART (delayed prices)
DOLLAR MOVES UP, BUT MAY HAVE JUST DROPPED
WE'LL HAVE TO WAIT FOR THESE DELAYED CHARTS
TO UPDATE
GOLD RALLLIES QUICKLY UP TO THE 75% RETRACE POINT OF THIS LAST DOWN MOVE
RALLY VOLUME ONLY 236 CONRACTS AS PROFIT
TAKERS MOVE IN
EURO, YEN MOVING UP
GOLD IN A $3 TRADING RANGE THAT COULD BE A LEDGE TO FALL FROM
EURO MOVING STEADILY LOWER TAKING OUT THE
PREVIOUS LOW AT 1.4271 BY HITTING 1.4266 THEN
MOVING BACK UP A BIT. CURRENTLY 1.4282 AND CLIMBING
STOCKS ARE FLAT
DOLLAR MAKING A FLAG PATTERN THAT RESOLVES HIGHER
BUT IT MAY NOT BE ABLE TO DO THAT AS DOLLAR LONGS
SHOULD BE SELLING THEIR PROFITABLE POSITIONS HERE
GOLD STOPS AT THE TOP DOWNTREND CHANNEL LINE SHORT OF THE 75% RETRACE POINT
EURO RALLIES BUT TURNS BACK DOWN, GOLD FOLLOWS
A WEAK RALLY AS EURO FAILS TO MOVE UP
GOLD MAY FALL TO THE 75% RETRACE POINT
OR LOWER BEFORE PUTTING IN THE REAL RALLY
3:00PM PST SUNDAY 1/3/10 GOLD OPEN
GOLD OPENS GAP UP AND IS NOW FALLING AND
HAS FILLED THE GAP AS EXPECTED.
GOLD WILL PROBABLY RALLY OF THE LOW BEING
MADE RIGHT NOW AND GRADUALLY WORK HIGHER
OVERNIGHT, ESPECIALLY WHEN THE FOREIGN MARKETS
OPEN AROUND 11PM PST
THE BIG PICTURE
GOLD MAY BE BUILDING THE RIGHT SHOULDER
OF AN INVERSE HEAD AND SHOULDERS PATTERN HERE
WHICH RESOLVES UP.
GOLD HAS ALREADY RETRACED MORE THAN
THE 75% POINT AT 1077.8 WHEN IT HIT 1075.2, THE
INTERMEDIATE LOW FOR NOW
Friday, January 1, 2010
Thursday, December 31, 2009
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