And an extra whack on moderate volume down
to the 100% point plus a tick, now the rally.
This is classic action. I've seen this a million times.
Down to the white uptrend line and the 75%
retracement area.
Friday, July 31, 2009
LIGHT VOLUME ON THIS OPENING PRESSURE, GET READY FOR A STRONG RALLY
And an extra whack on moderate volume down
to the 100% point plus a tick, now the rally.
This is classic action. I've seen this a million times.
SHORTS PRESSING ON THE MARKET BEFORE THE OPEN
shorts are probably very worried about selling
and have the market spike on them. The bullion
banks will have to sell in a big way to get the
desired reaction.
I'M LOOKING FOR GOLD TO HIT THE 75% RETRACE POINT AT 94870
Gold should start moving any minute now and
will retrace whichever direction it moves very
quickly then thrash around a good bit.
Take profits on any spike up as quickly as you
can send the order. Preferably have a REASONABLE
limit sell order placed already and be happy with
what you get. Market orders can go horribly wrong.
GOLD VERY RELUCTANT TO FALL SO FAR
The gold shorts may get a big surprise this
morning, although they will throw everything
they have at gold to keep it from rising
THE CRIMEX BOYZ GO TO WORK BEFORE THE OPEN TO SHAKE TRADERS' CONFIDENCE
Early sales on very light volume to shake up
the market because inexperienced traders are
ready to buy in at the top (and get screwed!)
which is why you only buy in on dips.
POSSIBLE RETRACEMENT POINTS IF GOLD GOES DOWN
Gold could easily spike up any moment before
the Crimex open. If not soon, then the open
should be very violent, but end up higher today
GOLD ROSE WELL OVER NIGHT WITH ONE SUBSTANTIAL PULL BACK AND RE-RALLY
Euro up well
Yen down
Dollar down trending again until the next
PPT intervention
Gold ready to make new highs today
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