That's the feeling i get looking at the chart, like it might want to retrace a bit, kiss the 50-day again maybe - stockcharts.com
From 315 to 373 was 58 points, so 344 would be a .50 retrace, and the 50-day will be there in about a week and a half .... could easily happen, wouldn't hurt anything, it could build a base from there and come north again no problem ... and it needn't have anything much to do with relative stridency of the permawar folk
War on Irag would be quite unlike the one twelve years ago .... that time they were just shooting up a retreating army, out in the open, they did not go into the cities .... this time around they're talking military occupation of the whole nation, this is an absolutely different animal .... the 'war' may well be short and swift with relatively few killed, but the occupation is another matter, and i doubt anybody can say with certainty what the reaction will be from all parties in the general area ...... so as this relates to gold, i don't see the angst relieved much by an actual invasion, by a postponement of invasion, by anything .... the angst is just there, it's part of the backdrop now
And the USD trend is more significant anyway, imho |
