Friday, August 21, 2009
GOLD CREEPS HIGHER IN AFTERNOON TRADING AS GOLD APPROACHES THE CLOSE FOR THE WEEKEND
Gold is about to break up and out of the white down flag
as it moves higher slowly in the blue uptrend channel
of late afternoon trading. The shorts were not able to
push gold back down after its large up spike this morning,
a good sign for gold's ability to move higher next week
THE GOLD MANIPULATORS DRIVE GOLD LOWER INTO THE CRIMEX CLOSE TO 'PAINT THE CHART' NEGATIVELY
After the close gold will probably move much higher, if not
even spike higher in the next hour
GOLD MAY FALL TO 950 IF 95340 DOESN'T HOLD
Euro pulling back, Dow topping, Bonds slow their fall
Yen still falling but slowing
Dollar holds near its low at .7794
GOLD RALLIES TO THE PREVIOUS TOP BUT MAY FALL BACK SOME MORE
Gold pulls back as Bonds, Yen plummet, Dow rockets up 162
Dollar falls another penny to .7794.
Gold likely to make even higher highs after some more
pull back to clear the market of weak longs
GOLD PULLS BACK 50% OF THE UP SPIKE, MAY FIND SUPPORT AT THE YELLOW OR BLUE TREND LINES JUST EXCEEDED
The 75% retrace point at 950 coincides with the yellow
trend line but is also very close to the blue trend line also.
Gold may reverse sooner though. Or could fall even lower,
but that is less likely now as the ability of the manipulators
to pressure gold is being destroyed by these moves at these levels.
DAILY CHART OF TBONDS (delayed prices)
Bonds should not move above the previous high. The
bond market should collapse soon regardless of guv'mint
buying of the bonds as they have to print the money to buy
the bonds thus creating more inflation and devaluing the
interest paid on the bonds requiring a higher interest rate
to compensate and thus driving the price of the bonds down.
GOLD SPIKES OUT OF 3 TREND CHANNELS, NEXT HIGHER RETRACE POINT AT 96350
Gold breaks out of the yellow downtrend channel passing
all but the final 75% retrace point at 96360.
Dollar falls to a low of .7894, Euro rises strongly.
Gold now pulling back in a down flag, but could pull back
a good deal on profit taking and manipulation.
