THE WHITE UPTREND CHANNEL LINE IS BELOW THAT
Wednesday, January 20, 2010
GOLD DROPS HARD AS STOCKS ARE DOWN 150 POINTS
GOLD IS RALLYING ON STRONG VOLUME BUT NOT
MAKING MUCH PROGRESS DISTANCE WISE.
DOLLAR MOVES HIGHER PUTTING PRESSURE ON GOLD
YEN PLUMMETS, OIL HIGHER, GOLD MAY RALLY SOON
GOLD WILL PROBABLY RALLY OFF THE RED LINE,
PULL BACK TO RETEST IT, MAYBE GO A PINCH LOWER
THEN REALLY RALLY
GOLD CREATING AN INVERSE FLAG THAT RESOLVES DOWN
DOLLAR, YEN, BONDS UP...NOT SUPPORTIVE OF
HIGHER GOLD RIGHT NOW
WAIT FOR GOLD TO BOTTOM BEFORE BUYING IN
GOLD HIT HARD ON THE CRIMEX OPEN DOWN TO THE 75% RETRACE POINT AND LOWER
HOUSING STARTS AND PPI REPORTS IN TWO MINUTES
CONFLLICTING INDICATOR MARKETS MAKING IT VERY HARD TO CALL GOLD'S DIRECTION, IT SHOULD RALLY ON THE CRIMEX OPEN BECAUSE IT'S SO LOW
GOLD COULD GET HIT ON THE OPEN AND THEN
PUT IN A GOOD RALLY WHICH WILL SELL OF
QUICKLY ONCE IT STALLS AT THE TOP
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