Thursday, January 14, 2010
GOLD GETS POUNDED DOWN TO THE BOTTOM RED LINE OF THE TRADING RANGE
THIS IS PURELY A COORDINATED HIT BY THE
BULLION BANKS AS THE OTHER MARKETS HAVE
DONE NOTHING TO INFLUENCE GOLD IN THIS MANNER
GOLD CONTINUES TO CONSOLIDATE IN THE RED DOWN FLAG, SHOULD MOVE HIGHER EVENTUALLY
THE LONGER GOLD CONSOLIDATES HERE THE
MORE LIKELY A BREAKOUT BECOMES.
BUT, WHICH DIRECTION?
STOCKS, OIL FALLING, EURO, YEN RISING
GOLD RISES TO THE TOP RED LINE OF THE DOWNTREND
CHANNEL AND HITS THE 75% RETRACE POINT.
NOW PULLING BACK
NOTHING IS VERY CLEAR RIGHT NOW AS TO GOLD'S
DIRECTION SHORT OR LONG TERM
THE LARGER PICTURE
GOLD WILL PROBABLY FALL TO THE LOW SIDE OF
THE RED DOWN TREND CHANNEL OR GO EVEN LOWER
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