Tuesday, December 1, 2009




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5 MINUTE DECEMBER DOLLAR CHART (delayed prices)


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THIS IS THE HOUR WHEN GOLD EITHER MOVES HIGHER OR DROPS SUBSTANTIALLY


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GOLD IS NEAR TWO TOP UPTREND LINES, BLACK IS THE MAJOR TOP TRENDLINE, SO GOLD COULD BE OVERBOUGHT




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ANOTHER NEW HIGH


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ANOTHER NEW HIGH


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GOLD SUDDENLY SPIKES TO A NEW HIGH


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5 MINUTE DECEMBER DOLLAR CHART (delayed prices)


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EURO DROPS, GOLD FOLLOWS BUT NOT FOR LONG



GOLD CONTINUES TO SLIP.
WILL THE PREVIOUS WHITE DOWNTREND LINE BE SUPPORT?
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ANOTHER NEW HIGH


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GOLD PULLS BACK AS EURO HITS 1.5103, GOLD MAY MOVE RIGHT BACK UP EVEN HIGHER


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GOLD BREAKS UP AND OUT OF THE RED DOWN FLAG TO A NEW HIGH ON STRONG VOLUME


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THE RIGHT SHOULDER MOVES A BIT HIGHER BUT THE PATTERN IS STILL INTACT


WHICH PATTERN WILL PREVAIL?
THE RED DOWN FLAG
OR THE H&S PATTERN?
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H&S PATTERN STILL INTACT



THE H&S PATTERN WON'T RESOLVE TOO FAR DOWN
AND WILL PROVIDE A GOOD BUY IN POINT
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A MINI H&S PATTERN HAS DEVELOPED, RESOLVES DOWN


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GOLD JUST KEEPS MOVING HIGHER NOW




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5 MINUTE DECEMBER DOLLAR CHART (delayed prices)


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ANOTHER NEW HIGH




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GOLD INCHES UP TO THE 75% RETRACE POINT ON DECENT VOLUME



GOLD IS RETESTING THE NEW HIGH, COULD JUST
BLAST THROUGH AGAIN TO NEW HIGHS
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GOLD MAY JUST KEEP MOVING HIGHER IN THIS FASHION IN REACTION TO OBOMBA'S PLAN TO MAKE THE WAR A MORE EXPENSIVE MESS


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GOLD SPIKES TO ANOTHER NEW HIGH ON STRONG VOLUME CREATING ANOTHER 'STEP' IN THE SWISS STAIR PATTERN


GOLD SHOULD NOW STAY ABOVE THE $1200 SUPPORT LINE
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GOLD HITS THE 75% RETRACE POINT AND PULLS BACK, COULD MOVE BACK UP TO, AND BEYOND, THE NEW HIGH


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GOLD WORKING HIGHER




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GOLD KEEPS PLAY WITH US BY TESTING THE LOW, THEN MOVING A BIT HIGHER, AND REPEATING







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STOCKS, OIL, EURO MOVING LOWER, YEN UP, GOLD SHOULD FALL



BUT DON'T EVER COUNT GOLD OUT
IT COULD SPIKE UP AT ANY TIME IF THOSE LARGE
ENTITIES MOVE IN TO ESTABLISH THEIR LONG TERM
POSITIONS AS THEY HAVE BEEN DOING TO CREATE
THE 'SWISS STAIR' PATTERN THAT WILL CONTINUE
AND EVENTUALLY GO PARABOLIC
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IS THIS A BOTTOM OR A LEDGE?


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EURO FALLS, GOLD PULLS BACK, MAY MOVE LOWER, OR COULD MOVE UP AND ABOVE THE RED DOWN FLAG


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GOLD IS CONSOLIDATING HERE AND MAY SPIKE HIGHER SOON




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GOLD PULLS BACK 75%, THEN MOVES BACK UP




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