GOLD MAY YET FALL TO THE 75% RETRACE POINT AT 93680 AFTER THIS BRIEF RALLY

GOLD MOVES UP TO THE 2ND RETRACE POINT

GOLD MOVES UP TO THE 1ST RETRACE POINT

POSSIBLE RETRACEMENT POINTS

GOLD MOVES LOWER BREAKING BELOW THE WHITE UPTREND BOTTOME LINE

THE RED DOWN FLAG 'MAY' RESOLVE UP AS THE DOLLAR IS MOVING LOWER, THE EURO HIGHER

2:15PM PDST GOLD AFTERNOON CLOSE

NEW TRENDLINES DRAWN

GOLD IS MOVING LOWER AHEAD OF THE CLOSE

GOLD STILL TRADING WITHIN THE BLUE UPTREND CHANNEL, MAY SELL OFF INTO THE CRIMEX CLOSE

GOLD IS STILL WITHIN THE BLUE UP TREND CHANNEL AND COULD MOVE LOWER OUT OF IT

THIS RALLY MAY BE A FAKE OUT AS THE INDICATOR MARKETS ARE NOT SUPPORTIVE OF THE MOVE

A $2 TRADING RANGE THIS LONG IN DURATION IS RISKY TO TRADE EXCEPT IN THE DIRECTION IT SHOULD RESOLVE

This trading range appears within the blue uptrend channel
which should resolve down

HOURLY EURO CHART (delayed prices)

The reverse of the dollar chart. The down flag on the top
of the up move flag pole resolves up

HOURLY DOLLAR CHART (delayed prices)

The up flag at the end of the sell off flag pole resolves down

THE BLUE UP TREND CHANNEL RESOLVES DOWN

GOLD SLIPS BELOW THE BLUE UPTREND LINE

GOLD MAY BE BUILDING A LEDGE TO FALL FROM

This is not the typical consolidation pattern that moves higher.
When gold congests like this after a precipitous drop off,
it is a continuation of the drop off. There are several
support points just below though where gold could reverse
and rally

GOLD DROPS BELOW THE OVERNIGHT TRADING RANGE TO THE SHORT TERM WHITE UPTREND LINE

Almost a 75% pull back as soon as gold hits the Crimex session

THE YELLOW DOWN FLAG RESOLVES UP BUT THE BLUE UP FLAG RESOLVES DOWN

As long as the blue up flag resolves down and stays
above the bottom line of the yellow down flag, gold should
still be moving higher ultimately