Gold

my personal view point is i think we will see the 1500's, if gold closes below that number 17

WaveSurfer wrote: will do later this evening - at work.

That was the break out area look at that Marbooza candle and gold flew off to make new highs - look similar candle on 21st Aug 12. that's it really nothing much fancier than that that was when buyers underpinned the price.

you see that type of candle pretty much along that line. 1617 very imp number...not to be messed with

will do later this evening - at work.

That was the break out area look at that Marbooza candle and gold flew off to make new highs - look similar candle on 21st Aug 12. that's it really nothing much fancier than that that was when buyers underpinned the price.

you see that type of candle pretty much along that line. 1617 very imp number...not to be messed with

WaveSurfer wrote: Scene of the crime 02 Aug 11 opening candle

Hi WaveSurfer,

Can you post a chart for the 02-Aug-11? Ta!

due a bounce now - watch 17/23 > 24/29 now... if it cant get abv that then crap again.

Scene of the crime 02 Aug 11 opening candle

WaveSurfer wrote: need a close below 17, its big number for gold or back up, let the bull n bear fight it out here.

Well, I'm frazzled by this move



I've had a go at plotting (yet) another trend-line, but I reckon this commodity can be exempt from T/A sometimes (I'd even dare to suggest that this market has been cornered - but like I said, I'm "frazzled"! )

The circle legends:
blue - "clear touch"
yellow - "close enough"

I'd end this post with a "DYOR", but quite frankly you'd be mad to take on any trading advice from me!

p.s. there is an upside to the gold downward move (no, not a macro economic one), but it means that we can perhaps start to accumulate some long term non-fiat assets.

p.p.s News related: I think I read that Soros is selling off some Gold Funds which might have been a catalyst for the drop.