Friday, December 29, 2006

Spot Gold Chart Update

Dear readers,

The year is coming to an end and volume is low , meanwhile gold managed to retrace to the 61.8% Fibonacci line of the latest 38$ correction. An up to date intraday chart with Fibonacci lines is posted below.

Monday, December 18, 2006

Gold & Central Banks

It is widely known that central banks hold significant amount of gold and actively participating in the gold market both as buyers and sellers. What is much less known is the exact way in which central banks count their ounces and perform their gold transactions. Neal R Ryan the director of economic research – Blanchard and Company Inc. published an interesting paper about this issue. The paper includes information about gold loans and swaps, Bullion banks - central banks relations, and the IMF opinions about these issues.

See my Previous gold & central banks related posts.

Wednesday, December 13, 2006

Spot Gold – Fibonacci update

Dear readers,

Spot gold 4 hours intraday chart annotated with the latest Fibonacci lines is posted below, click on the chart for larger view.

spot gold intraday chart

Sunday, December 10, 2006

Silver Charts

Dear readers,

I'm posting two charts:

  • Weekly spot silver chart annotated with Fibonacci levels and uptrend line.

  • Long term silver chart.

Previous silver charts and commentary

spot silver weekly chart

long term silver chart

Tuesday, December 05, 2006

Gold in Euro and Yen

Dear readers,

Don’t be surprised to see Higher USD Index along Higher Gold price.

See also : HUI Breakout

Below are daily charts of Gold in Euro and Gold in Yen, can you see the inverted head and shoulders patterns?

gold euro chart

gold yen chart

Saturday, December 02, 2006

US Dollar Index (USDX) Elliott Wave Update

Dear readers,

The US Dollar Index (USDX) is approaching its Head and Shoulders pattern target (~81.5). The Elliot Waves count on the 3 years weekly chart indicates that once {c – C –(B)} bottom is in place a sustained 5 waves upward move ( Wave C) should start and it will probably last at least one year. Looking at the 20 years chart it is easy to see that the USD index can go a bit higher then 100 and still stay well inside the bear market long term trend. On the bearish side - note the potential gigantic 13 years head and shoulders pattern, the neckline is around 80 and the price target = ~40.

If you are unfamiliar with Elliott Waves, I strongly recommend that you read this short yet excellent EW tutorial.

US Dollar Index (USDX) Elliott  Wave

US Dollar Index (USDX) Long term Elliott  Wave



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