GOLD RISES QUICKLY OFF THE LOW ON MODERATE TO LIGHT VOLUME


GOLD STARTING TO BREAK OUT OF THE WHITE
DOWNTREND CHANNEL AND IS NEAR THE 75%
RETRACE POINT, THE 1ST OF MANY ON THE WAY
BACK UP

THE GREEN UPTREND CHANNEL FROM THE HEAD TO THE RT SHOULDER


GOLD WAS STUCK IN A $7 TRADING RANGE TODAY
AND IS NARROWING THAT DOWN IN AFTERNOON
TRADING

GOLD GROWS WEAKER AS WE NEAR THE CRIMEX CLOSE


AS IS USUALLY THE CASE, GOLD MAY TRADE
SIDEWAYS IN EARLY AFTERNOON TRADING AFTER
THE CRIMEX CLOSE, THEN AFTER THE 3PM PST RE-OPEN
IT MAY WORK HIGHER UNTIL MIDNITE PST WHEN
THE FOREIGN MARKETS CAN MAKE IT MOVE AGAIN

NO BUYER ACTIVITY HERE ON THESE LOWS, GOLD MAY FALL FURTHER IF IT DOESN'T RALLY QUICKLY AND STRONGLY


OIL, STOCKS, EURO ALL MOVING DOWN
YEN UP A LITTLE
BONDS DOWN
DOLLAR STILL UP OFF ITS LOWS

FEELS LIKEN GOLD IS GOING TO GET HIT ON THE CRIMEX OPEN, THEN A RALLY LATER LIKE USUAL


FIRST THE BULLION BANKS SELL HARD TO SHAKE
OUT THE WEAK LONGS, THEN THEY LET GOLD RISE
AS THEY BUY THEIR SHORT POSITIONS BACK AND
MAKE A PROFIT THAT WAY TOO PLUS THE PROFIT
THEY MAKE ON THEIR NEW LONGS AS GOLD RISES

EURO MOVING DOWN, GOLD FOLLOWING


GOLD IS LOWER THAN SHOWN AND DROPPING FAST
GET READY FOR ANOTHER GOLD BASHING DAY ON
THE CRIMEX