Sunday, January 3, 2010

THE RED DOWN FLAG SHOULD RESOLVE UP


GOLD MOVES ABOVE THE PURPLE DOWNTREND CHANNEL TOP LINE


THE LARGER PICTURE


GOLD NEEDS TO MOVE ABOVE THE PURPLE DOWNTREND
CHANNEL TOP LINE AND THE NEXT 3 HIGHS SHOWN

GOLD ABOUT TO HIT THE NEXT HIGHER 75% RETRACE POINT


GOLD JUMPS UP TO THE PURPLE INTERMEDIATE DOWNTREND CHANNEL TOP LINE AND PULLS BACK



FOR PERSPECTIVE

5 MINUTE MARCH 2010 DOLLAR CHART (delayed prices)


GOLD BREAKS OUT OF THE WHITE DOWNTREND CHANNEL BUT IS STOPPED AT THE TOP LINE OF THE BLUE UPTREND CHANNEL


EURO, YEN MOVING LOWER

GOLD MAY CONTINUE HIGHER FROM HERE


EURO, STOCKS GRADUALLY TURNING HIGHER

GOLD MAY CONSOLIDATE HERE AND MOVE HIGHER


5 MINUTE MARCH 2010 DOLLAR CHART (delayed prices)


DOLLAR MOVES UP, BUT MAY HAVE JUST DROPPED
WE'LL HAVE TO WAIT FOR THESE DELAYED CHARTS
TO UPDATE

GOLD RALLLIES QUICKLY UP TO THE 75% RETRACE POINT OF THIS LAST DOWN MOVE


RALLY VOLUME ONLY 236 CONRACTS AS PROFIT
TAKERS MOVE IN
EURO, YEN MOVING UP

DOWNTREND CHANNEL LINES REDRAWN


GOLD STILL IN THE TRADING RANGE AS THE EURO MOVES DOWN AFTER A BRIEF RALLY


HOURLY TBOND CHART


BONDS MAY MOVE LOWER

GOLD IN A $3 TRADING RANGE THAT COULD BE A LEDGE TO FALL FROM


EURO MOVING STEADILY LOWER TAKING OUT THE
PREVIOUS LOW AT 1.4271 BY HITTING 1.4266 THEN
MOVING BACK UP A BIT. CURRENTLY 1.4282 AND CLIMBING
STOCKS ARE FLAT
DOLLAR MAKING A FLAG PATTERN THAT RESOLVES HIGHER
BUT IT MAY NOT BE ABLE TO DO THAT AS DOLLAR LONGS
SHOULD BE SELLING THEIR PROFITABLE POSITIONS HERE

5 MINUTE MARCH 2010 DOLLAR CHART (delayed prices)


DOLLAR MOVES UP

EURO MOVES LOWER, GOLD FOLLOWING


GOLD STOPS AT THE TOP DOWNTREND CHANNEL LINE SHORT OF THE 75% RETRACE POINT


EURO RALLIES BUT TURNS BACK DOWN, GOLD FOLLOWS

5 MINUTE MARCH 2010 DOLLAR CHART (delayed prices)