GOLD HITS THE 1ST RETRACE POINT


GOLD RALLIES A BIT BUT FALLS LOWER.
I THINK IT WILL GO TO THE YELLOW UPTREND LINE
BEFORE RALLYING FOR REAL

A NORMAL RETRACE WOULD BE TO THE 1ST POINT SHOWN AT 1186.60, THE NEXT IS AT 1184.60, I'M BETTNG ON THE YELLOW UPTREND LINE


GIVEN THE VOLATILITY OF THIS MARKET, I WANT
THE LOWEST BUY IN I CAN GET.
I KNOW GOLD IS GOING TO GO HIGHER, SO I DON'T
WANT TO BUY IN ANY HIGHER THAN NECESSARY
AS IT IS MOVING UP AND DOWN SO MUCH, I DON'T WANT
TO GET UPSIDE DOWN ANY MORE THAN IS ACCEPTABLE
ON ANY POSITION.
YOU ALMOST NEVER GET THE BOTTOM PRICE, SO YOU
JUST WANT TO GET CLOSE TO THE BOTTOM ON YOUR
BUY IN

GOLD RETRACE BACK UP 61.8%, NOW FALLING AGAIN


THE DUBAI SITUATION SHOULD BE STUDIED. IT
SHOULD MAKE GOLD GO UP AS IT IS JUST ONE MORE
NAIL IN THE DOLLAR'S COFFIN, BUT WHO KNOWS
ANYMORE HOW THESE MARKETS WILL REACT IN THE
SHORT TERM?

GLOBEX CLOSED AT 10:15AM PST FOR HOLIDAY


GLOBEX RE-OPENS TODAY AT 3PM PST AND CONTINUES
THROUGH FRIDAY UNTIL 10:15AM PST FOR AN EARLY
HOLIDAY CLOSE FOR THE WEEKEND
THEN RE-OPENS SUNDAY AT 3PM PST

POSSIBLE RETRACE POINTS BACK DOWN



GOLD CONTINUES ITS STRONG RALLY RIGHT INTO
THE EARLY CLOSE ON GLOBEX AT 10:15AM PST

LOOKS LIKE GOLD FOUND A BOTTOM


GOLD SHOOTS RIGHT BY THE RETRACE POINTS

DOW DOWN 200 POINTS, OIL, EURO DOWN, GOLD SLIPPING


NO DOLLAR CHARTS TODAY DUE TO HOLIDAY
MARKETS ARE TRADING ELECTRONICALLY AND
ARE THIN, BUT GOLD COULD RISE STRONGLY IF
IT HITS A LOW THAT BUYERS LIKE.