Dutch Central Bank Sale Announcement Imminent? Message Board

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Politics : Dutch Central Bank Sale Announcement Imminent?

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To: Tom Byron who wrote (2454)	12/6/1998 6:03:00 PM
From: Giraffe	Read Replies (1) of 81149

>>the extended bottom and top channel lines on the xau show that the xau will put in a bottom around 20 in mid-June, 1999 << Why do you think it will stop in mid-june at 20? Why not, for example a month before a little higher or a month later a little lower? Why not extend it all the way to zero? :) >>so I pick the 215 low for gold and the XAU closing in the low 20's...<< Looking at the DecisionPoint chart - if we're using their channel lines (and yes Hutch we know you don't like the way MR DP weilds his ruler) it would appear that last August London gold failed to move down to the lower extreme and then followed that with a modest breakout on the upper channel. Recent price action does look pretty weak but I still don't see much point in extending that lower channel ... at least not until the spot behaves itself and gets back into the channel. Even then it could simply reconfirm the August bottom.

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