Monday, July 13, 2009

GOLD STILL STAIR STEPPING HIGHER FOR NOW


GOLD CONTINUES RISING NEARER TO THE 2ND 75% RETRACE POINT AT 91270


GOLD BREAKS OUT ABOVE THE WHITE DOWNTREND CHANNEL BUT IS STOPPED AT THE PREVIOUS HIGH AT 91120, MAY MOVE HIGHER


Dow up 88
Euro rising well
Oil also
Bonds turned down
Dollar chopping sideways

GOLD MOVES BACK UP TO THE 1ST 75% RETRACE POINT


Euro, Oil, Dow all move higher
Bonds turn down
Dollar moves up to .8057

GOLD RALLY ALMOST BREAKS OUT OF THE WHITE DOWN FLAG, BUT PULLS BACK




OIL, EURO, DOW ALL MAY BE TURNING BACK UP HERE WHILE BONDS MAY BE TURNING DOWN


Very preliminary action that could fail, but
gold is now moving higher quickly

GOLD LOOKING VERY WEAK, FORMING A LEDGE TO FALL FROM


Euro, Oil and Dow still falling
About 80 buyers at 907
Gold still fighting back with
little rallies on moderate volume

GOLD HOLDING ON HERE VERY TENUOUSLY TRYING TO FIND SUPPORT BUT EURO AND OIL ARE NOT HELPING

Bonds still moving up
Euro, Oil and Dow moving down
Dollar fairly steady at .8041
Gold starting to move back up on very light volume

OIL AND EURO MOVE LOWER, GOLD MAY DROP FURTHER

Bonds still moving higher,
Dow is weakending
Dollar is NOT rising much at all

GOLD FALLS TO THE BLUE UPTREND CHANNEL BOTTOM LINE FINDING SUPPORT THERE

Good volume on the rally bounce, but it doesn't move very high.
It may consoldiate here a bit, but MUST move higher quickly to keep
from moving lower

GOLD RETRACES NEARLY 100% OF LAST UP LEG


GOLD MAY HAVE TO TOUCH 90980 BEFORE RALLYING


THE LARGER VIEW


Gold should eventually break up out of the white Intermediate down flag

GOLD RALLIES WELL AFTER THE PULL BACK


Bonds start to rise
Dollar has formed a small ledge/up flag to fall
of off

OIL FALLS TAKING GOLD WITH IT ON MODERATE VOLUME TO THE 1ST 75% POINT


GOLD MAY BE GETTING READY TO BREAK HIGHER


Gold is still consolidating here and may move higher soon
Volume is very light
The Indicator markets are supportive of gold right now

GOLD MOVED UP OUT OF THE LITTLE WHITE DOWN FLAG BUT DIDN'T MOVE UP FAST ENOUGH SO IT SOLD OFF ON LIGHT VOLUME, MAY GO BACK UP



Dow up 38
Euro and Oil pull back after a decent uptrend
Bonds down
Dollar is moving lower

GOLD COULD MOVE UP TO ABOUT 932