2:15 PM PDST AFTERNOON GOLD CLOSE

GOLD RETRACES UP 68% WITHIN THE RED UP FLAG THEN BACK DOWN JUST BARELY BREAKING UP AND OUT OF THE WHITE DOWNTREND CHANNEL

The red up flag resolves down, maybe now.

15 MINUTE DECEMBER DOLLAR CHART (delayed prices)

THE WHITE DOWN FLAG SHOULD RESOLVE UP, PROBABLY SUNDAY EVENING IF NOT THIS AFTERNOON

GOLD MOVES UP AFTER THE CRIMEX CLOSE

GOLD MAY SELL OFF INTO THE CRIMEX CLOSE THEN RALLY IN AFTERNOON TRADING

GOLD DOES RESOLVE DOWN

GOLD FORMS A LITTLE UP FLAG THAT WILL RESOLVE DOWN

Gold should move lower to the 75% point at 1004.10 which

coincides with the turquoise blue uptrend line where support

should exist.

For now, the other markets are not supportive of higher gold

but may change when gold moves down to the point discussed

above

15 MINUTE DECEMBER DOLLAR CHART (delayed prices)

GOLD MOVES LOWER AS OIL, STOCKS, EURO MOVE LOWER, BONDS, YEN HIGHER

DOLLAR MOVES LOWER

ANOTHER TOPPING PATTERN

THE RED DOWN FLAG RESOLVES UP

GOLD MOVES CLOSER TO THE 75% POINT

Then moves above it slightly before pulling back

15 MINUTE DECEMBER DOLLAR CHART (delayed prices)

GOLD RETRACES LESS THAN 75%

The Euro plunged, but has moved back up strongly

DON'T CHASE GOLD HERE, LET IT PULL BACK

THE LARGER PICTURE

Gold is in the overbought upper area of the YELLOW

Intermediate Uptrend Channel

The upper bounds are near $1024 which is one of Sinclair's

numbers and where gold should pull back before moving to

the next higher number at 1089

GOLD FALLS FASTER TO THE 2ND 75% RETRACE POINT

This is classical behavior of making a slightly higher high

then collapsing on profit taking. How far gold pulls back

is to be seen, but it's moving down faster