DAILY CHART OF MOVING AVERAGES


THE 10 DAY MA IS ABOUT TO CROSS BACK UP OVER
THE 20, 40 AND 50 DAY MAs AS GOLD MOVES BACK
UP TO NEW HIGHS

IS GOLD TRYING TO MOVE HIGHER HERE, OR IS THIS A FAKE OUT?


GOLD IS NOT MOVING WITH DISCERNIBLE FORCE
IN EITHER DIRECTION, ESPECIALLY UP, ENOUGH
TO PREDICT WHAT IT'S GOING TO DO FROM HERE
SO FAR, IT'S JUST DRIBBLING LOWER

5 MINUTE MARCH 2010 DOLLAR CHART (delayed prices)


DOLLAR FALLS, BUT SO IS GOLD AND THE EURO TOO
WTF?

GOLD CONTINUES ITS DOWNTREND, BUT HOW FAR DOWN WILL IT GO?



FIRST SUPPORT AREA WOULD BE AT THE INTERSECTION
OF THE 75% RETRACE POINT AND THE LOWER DARK PINK
LOWER UPTREND CHANNEL LINE

GOLD WILL PROBABLY 'STAIR STEP' HIGHER FROM HERE


GOLD IS APPROACHING A MAJOR RESISTANCE AREA
AROUND 1145 TO 1150 ACCORDING TO DAN NORCINI
(see JSMineset.com). BUT, GIVEN TRADING SINCE
MONDAY, IT APPEARS THAT GOLD IS HEADED BACK UP
STRONGLY AND COULD BREAK THROUGH THAT RESISTANCE
IN ONE OR TWO DAYS AND MOVE HIGHER RATHER BRISKLY.

ANOTHER HIGH ON STRONG VOLUME BUT ONLY TO THE BLUE TREND LINE, NOW PULLING BACK, A TOPPING PATTERN


TYPICAL TOPPING PATTERN WHEN LATE COMERS
JUMP IN AT THE TOP ONLY TO SEE GOLD FALL BACK
ON PROFIT TAKING
STOCKS, EURO, OIL ALL PULLING BACK

STARTING TO LOOK LIKE GOLD WILL TAKE IT ALL BACK



STOCKS STILL RISING, EURO PULLING BACK AFTER
RISING GRUDGINGLY

THE LARGER PICTURE


LOTS OF 75% RETRACE POINTS BETWEEN HERE
AND THE ONE SHOWN COMPUTED OFF OF THE LOW
AND EACH HIGH ON THE LEFT OF THE CHART

GOLD STOPS AT THE THIN BLUE TOP UPTREND CHANNEL LINE, EURO NOT RISING, STOCKS ARE RISING SOME


GOOD VOLUME ON THE RALLY BUT ITS POOPING OUT
NOW. GOLD IS NOT MOVING DOWN YET, BUT MAY

GOLD RALLIES ON THE OPEN BUT STALLS AT THE 75% RETRACE POINT



EXPECT A GOOD PULL BACK HERE BEFORE ANY
BIG RALLY,
IF ANY IS TO COME