Wednesday, July 29, 2009
YEN MAKING NEW LOWS, OIL AND EURO ATTEMPTING TO MOVE HIGHER, DOLLAR AT NEW HIGHS
Very hard market to call with the dollar rising, but other
markets appearing to want to begin to support a gold rally.
If gold rises, it could find resistance at the old blue bottom
downtrend line shown which will now be redrawn to include
the new lows just made.
GOLD CREEPING HIGHER ON LIGHT VOLUME AFTER SOME STRONG VOLUME BUY IN AT THE BOTTOM
This rally will not go too much higher without a pull back,
a re-test of the lows and maybe a quick drop lower before
the main rally occurs.
OIL FALLING HARD
No good reason for this little low volume gold rally except
for some dip buyers grabbing a low price
GOLD JUMPS A LITTLE, BUT ALL THE INDICATOR MARKETS ARE BEARISH FOR GOLD
Dollar still strong, currently just under its highs at .7938
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