Tuesday, January 12, 2010

GOLD BREAKS OUT HIGHER ON STRONG VOLUME




GOLD BREAKS OUT OF THE RED DOWN FLAG WITH NOT MUCH MOMENTUM


GOLD PULLING BACK IN A DOWN FLAG THAT WILL BREAK HIGHER


GOLD RISES TO THE 75% RETRACE POINT, NOW A PULL BACK, THEN HIGHER


GOLD HAS PENETRATED THE RED RESISTANCE LINE AND IS MOVING UP ON MODERATE VOLUME




GOLD RALLIES TO THE BOTTOME RED LINE OF THE TRADING RANGE/DOWNTREND CHANNEL JUST VIOLANTED TO THE DOWN SIDE FIND RESISTANCE..NORMAL


GOLD NOT PENETRATING THE RED RESISTANCE LINE
EVEN WITH FAIRLY GOOD UP VOLUME
MAY DO IT SOON THOUGH
SO FAR, THE WHITE LOWER DOWNTREND CHANNEL
LINE IS HOLDING AS THE LOW

GOLD STARTS TO FALL, COULD STOP ON THE WHITE BOTTOM DOWNTREND CHANNEL LINE OR FALL TO LOWER RETRACE POINTS



STOCKS, OIL, EURO HAVE TURNED DOWN
YEN MOVING UP AGAIN
BONDS MOVING UP
NOT GOOD FOR HIGHER GOLD
DOLLAR HAS TURNED UP A BIT

GOLD STARTING TO PIERCE THE LOW


GOLD RETEST THE LOW A 4TH TIME


THIS IS TURNING INTO A GIANT LEDGE TO FALL FROM

STOCKS, OIL KEEP INCHING UP, EURO NOW STARTING TO MOVE UP


GOLD MOVES UP ON GOOD VOLUME THEN FADES
AND WON'T FOLLOW THROUGH
COULD BE A PROBLEM AND MAKE TRADERS START
TO BAIL OUT AND DROP GOLD

GOLD MOVES UP OFF THE LOW FOR THE 3RD TIME, BUT COULD BREAK LOWER IF IT DOESN'T GET SOME UPWARD MOMENTUM QUICKLY


3 MINUTES OF GOOD UP VOLUME THEN A PAUSE
AND ANOTHER MOVE UP A LITTLE
THIS COULD BE THE START OF THE RALLY

GOLD FAILS TO RALLY AS STOCKS, EURO DON'T FOLLOW THROUGH STRONGLY ON THEIR UPTURNS


STOCKS, OIL, EURO STARTING TO TURN UP, GOLD FOLLOWING CAREFULLY


GOLD VERY HESITANT ON THIS RISE

5 MINUTE MARCH 2010 DOLLAR CHART (delayed prices)


DOLLAR NOT RISING, SLIPPING LOWER INSTEAD

STOCKS OFF 70, EURO FALLING, GOLD DROPPING, MAY SUDDENLY REVERSE AND RALLY BIG TIME


STRONG DOWN VOLUME,
NO SIGNS OF BIG BLOCKS OF BIDS SHOWING
LOWS SEEM TO BE HOLDING FOR NOW

STOCKS, OIL, EURO MOVING LOWER, YEN UP, GOLD DROPS ON THE OPEN



TRADE BALANCE REPORT COMING ON THE HALF HOUR

15 MINUTE MARCH 2010 DOLLAR CHART (delayed prices)


FIVE MINUTES BEFORE THE CRIMEX OPEN


EURO IS MOVING LOWER
STOCKS ARE DOWN 64 AND TRENDING SIDEWAYS
OIL DOWN A BIT
YEN MOVING UP

GOLD MAY HAVE A BRIEF PRE-CRIMEX OPEN RALLY


TRADE BALANCE REPORT AT 5:30AM PST

GOLD EXTENDS THE LEDGE, CAN STILL MOVE LOWER


GOLD NEEDS TO MOVE HIGHER THAN THIS TRADING
RANGE TO AVOID HAVING TRADERS BAIL OUT
AND DRIVE GOLD LOWER

5 MINUTE MARCH 2010 DOLLAR CHART (delayed prices)


DOLLAR ACTUALLY DROPS EVEN WITH GOLD ON
ITS LOWS. MAYBE GOLD WILL RISE FROM HERE

GOLD RETESTS THE LOW


GOLD FORMING A LEDGE TO FALL LOWER FROM


STOCKS, OIL, EURO ALL MOVING LOWER

GOLD FINDING RESISTANCE ON THE LOWE BLUE DOWNTREND CHANNEL LINE, WHICH IS NORMAL AFTER IT IS VIOLATED TO THE DOWNSIDE


WE ARE TOO CLOSE TO THE CRIMEX OPEN TO GUESS
WHETHER OR NOT GOLD COULD RALLY FROM THIS
SELL OFF BEFORE THE OPEN. THERE MIGHT BE A
SMALL RALLY JUST BEFORE THE OPEN, BUT IT
WILL MORE THAN LIKELY GET KNOCKED BACK DOWN
ON THE OPEN. EXPECT GOLD TO RALLY EARLY IN
THE CRIMEX SESSION

5 MINUTE MARCH 2010 DOLLAR CHART (delayed prices)


I WOULD HAVE EXPECTED THE DOLLAR TO HAVE
BEEN GOOSED MUCH HIGHER AFTER GOLD FELL
SO FAR. INSTEAD, IT MUST HAVE BEEN THE BULLION
BANKS HAMMERING GOLD LOWER AHEAD OF THE
CRIMEX OPEN

GOLD RETRACES 75%, NOW BACK UP?


GOLD USUALLY MAKES A SLIGHTLY LOWER LOW
BEFORE IT RALLIES, BUT I DON'T SEE ANY LARGE
GROUPS OF BIDS NEAR THE LOW

A $4 BOUNCE, NOW A RETEST OF THE LOW, THEN ANOTHER RALLY


EURO, STOCKS TURN LOWER AGAIN

GOLD DROPS HARD BELOW THE RED TRADING RANGE ON STRONG VOLUME


STOCKS, OIL, EURO PLUNGING
GOLD MOVING LOWER

GOLD MOVES LOWER


THE LARGER PICTURE


LOOKS LIKE A LITTLE LEDGE TO FALL FROM TO ME


THIS CLOSE TO THE CRIMEX OPEN, I'M BETTING THE
GOLD BASHERS WILL BE SUPPRESSING GOLD FROM
HERE UNTIL THE OPEN

60 MINUTE MARCH 2010 DOLLAR CHART (delayed prices)


GOLD RETESTS THE LOWS




GOLD MOVES ABOVE THE 75% RETRACE POINT




GOLD MAY RETEST THE LOWS


GOLD MAY RISE FROM HERE, BUT WE'RE GETTING CLOSER TO THE CRIMEX OPEN AND THE GOLD BASHERS WOULD LOVE TO KEEP GOLD LOWER


STOCKS FALLING MORE, SHOULD PULL GOLD LOWER

THE LARGER PICTURE


GOLD NEEDS TO FALL A LITTLE MORE BEFORE IT RALLIES WELL


GOLD WILL PROBABLY FALL TO THE 75% POINT AT
1151 CATCHING ALL THE BIDS AT 1152

130 BUYERS WAITING AT 1152


GOLD COULD MOVE LOWER BEFORE ANY RALLY HIGHER


POSSIBLE HEAD AND SHOULDERS PATTERN HAS FORMED, RESOLVES DOWN


NEW RED DOWN FLAG LINES DRAWN


GOLD SHOULD BREAK OUT OF THIS RED DOWN FLAG TO HIGHER HIGHS