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Gold/Mining/Energy : Gold Price Monitor

GDXJ 106.70

-0.3%

Dec 5 4:00 PM EST

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To: Little Joe who wrote (23412)	11/27/1998 4:55:00 AM
From: Zardoz	Read Replies (6) of 116796

Today or Monday, the XAU will confirm a break out of it's pennant downwards. It has formed a near perfect "Cup and Handle pattern" with a decreasing neckline. Both of these suggest that it can NOT substain it's upward trend. Also the MACD is in a downward trend. With the linear slope on the upward acceleration. mypage.direct.ca It might also help to explain why future volume traded above open interest. A possible squeeze, and covering in spot price is all that is holding up the price of gold. DGC8Z 11/25/1998 296.40 297.00 295.50 296.50 000.10 22227 18125 Add to that the positive uptrend of the US Dollar index: decisionpoint.com And there is TREMENDOUS downward pressure on gold. I see decisionpoint, is drawing more accurate charts now. I see no head and shoulders {inverted or otherwise} on either the POG or the XAU. But if you believe that it's only a pullback; hey it's your buxs. There is another chart that suggest that Currencies are on the up swing, and that volitilty of gold will result in a rapid decrease in the coming days. Although it may be hard to see, the red line is now fully on the upswing again. mypage.direct.ca And in 90% plus of the time this has resulted in a downswing of gold, since 1975. The strength of the drop is NOT support by this chart, only the trend. But from another chart the drop should be greater than $15. This chart is calculated on comparing GOLD as a currency, with GOLD excluded from being a currency. You will notice that it can also drop when the RED line is below the horizontal as well.... but that is a stable drop. But let's see..

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