Sunday, October 28, 2007

GCZ7 Chart (Comex Gold)

Dear readers,

The trend is simply (still) up until it isn't. The move is extended and as the price keeps climbing the risk for a sharp sell off is also increasing. But for now after a modest ~25$ correction gold quickly recovered and made a new high. The trend (since August) support is currently coming at ~758$ . From an Elliott wave perspective (according to my count and understanding )support is at 749$ & 726.5$. Trend resistance at 803$ and climbing. More resistance at round numbers, contract highs , all times highs and Fibonacci targets.

thats all for now...

GCZ7 8 hours linear chart.

comex gold

Thursday, October 18, 2007

Gold Yen

Gold Yen indicates some kind of top (short or mid term) is around here so take note and be conservative with bearish USD speculation.