Tuesday, September 15, 2009

TRADING WILL PICK UP MORE IN ONE HOUR AND AROUND MIDNIGHT PDST WHEN GOLD COULD MOVE HIGHER


No sooner do I post this chart and comment but gold breaks
up and out of both down flags and moves to a new high


GOLD MOVES UP TO THE 75% POINT


Stocks, Oil, Euro all moving up. Feels like gold could
suddenly move higher, but I'm reluctant to buy in this
close to the top. I'd rather wait for a sizeable pull back as
that would provide less risk and more potential profit on the
rise back up to known territory.

GOLD PUSHES HIGHER GRADUALLY ON LIGHT VOLUME


NO SOONER SAID THAN DONE!



gold will probably retrace back down before making new highs

GOLD BREAKS OUT OF THE WHITE DOWNTREND CHANNEL AND TOPS THE PREVIOUS HIGH AT 1010.80 BEFORE PULLING BACK




Quite a rally after such a sell off earlier in the day.

The shorts must be crapping their collective pants about now.

HOURLY DECEMBER DOLLAR CHART (delayed prices)


Dollar fails to take out its previous high. It's going nowhere
BUT DOWN!

GOLD RUNS RIGHT BACK UP TO THE HIGH PLUS ONE TICK AND PULLS BACK ON SECONDARY PROFIT TAKING, SHOULD MOVE EVEN HIGHER


The shorts have to be covering to have gold move up this
fast and repeatedly making another new high.



Tremendous upward strength in gold after such a bashing

this morning. The shorts are doomed and must be going

crazy as they see their money disappear in seconds.

GOLD SCREAMS HIGHER ON HEAVY VOLUME







gold hits the top blue uptrend line and pulls back.


May find support on the top white downtrend line just


exceeded

GOLD BREAKS THROUGH RESISTANCE AT 9983 ON STRONG VOLUME


Strong volume all the way up to the previous top, now
a pull back to consolidate, then higher