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Strategies & Market Trends : MDA - Market Direction Analysis

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To: Crimson Ghost who wrote (45802)	4/12/2000 7:27:00 PM
From: bobby beara	Read Replies (2) of 99985

>>>Looks to me that we are in the final "waterfall" stage decline for the XAU<< George, while i believe there is a possible shot at gold going back and filling that gap at 270, it's a close call here. The waterfall decline in the xau came in late 1997 when the central banks were selling like crazy and ended with the capitulation bottom in august 1998, if you look at the weekly sticks you can see a major reversal, also the big white weekly stick after the bottom in late august 98 was on MAJOR volume. I doubt that we will ever violate the 48 bottom. I'm betting that we are bottoming here. below 60 the xau is a no brainer.

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