Sunday, July 26, 2009

NOW A RETRACE BACK DOWN?


GOLD HITS THE 75% RETRACE POINT


GOLD RISES NEARER TO THE 75% RETRACE POINT AT 95170


GOLD WILL PROBABLY PULL BACK 75% HERE


Euro and Oil are rising
Yen falling
Stocks rising
Bonds falling
Dollar slips back a little

GOLD CONTINUES TO RALLY UP TO THE SHORT TERM DOWNTREND LINE AND NEARING THE NEXT TWO RETRACE POINTS



DOLLAR RISES TO .7910


GOLD RALLIES A BIT EVEN THOUGH THE DOLLAR IS UP AND EURO IS DOWN


GOLD MAY BE GETTING READY TO MOVE MUCH LOWER


GOLD RALLIES 75% THE FLOPS DOWN TO THE LOWER 75% POINT, COULD RALLY FROM HERE


Euro falling
Oil slipping lower
Dollar rises to .7899

GOLD MOVES LOWER TO THE PURPLE UPTREND LINE, MAY DROP TO THE 75% POINT AT EITHER 9488 OR 9485



DOLLAR HAS CLIMBED BACK UP TO .78945

OIL AND EURO MOVING LOWER, GOLD MAY FOLLOW

DOLLAR PULLS BACK


SUNDAY...EURO GAPS UP ON THE OPEN THEN FALLS BACK TO FILL IT


SUNDAY...DOLLAR OPENS LOWER


GOLD HEADS FOR THE NEXT LOWER 75% RETRACE POINT AT 9488


Euro moves down to fill the open gap
DOLLAR OPENS DOWN AT .7880, currently at .7884

GOLD FALLS SUDDENLY TO ONE TICK ABOVE THE BIDS AT 95020


OPEN INTEREST IS HIGHEST IN DECEMBER '09 GOLD

I will be trading DECEMBER GOLD
as it has the highest Open Interest
October OI is a measily 19k contracts
while Dec has 138 K right now the same
as August which will stop trading on Friday
when First Notice arrives.

65 BIDS AT 95020 IN AUGUST GOLD


GOLD WILL PROBABLY PULL BACK 75% HERE


GOLD FALLS BACK AFTER A HIGH AT 530 JUST SHORT OF THE 2ND 75% RETRACE POINT AT 95340


Euro has a gap up open
Yen falls from the open
No data from my other Indicator markets yet

SUNDAY 7/26/09 GOLD OPENS UP, HITS THE 1ST 75% RETRACE POINT AND MOVES HIGHER ON LIGHT VOLUME