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Strategies & Market Trends : TA- Advanced GET

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To: Allan Harris who wrote (327)	2/24/1997 12:45:00 PM
From: Allan Harris	of 1551

XTL setting up to BUY GOLD. 358.80 on April Gold will trigger an XTL (35) BUY on April Gold. But there's more: Daily Chart shows a breakout of downward sloping regression channels; Weekly and monthly charts show lower low but higher close for February (monthly chart) and two weeks ago (weekly chart). If you have the data go back ten years on the monthly Gold charts and observe that although Gold has been in a major downtrend for the entire period, that in Jan '90, Jan '93 and Feb '97 Gold made lower Monthly lows but closed UP for the month. In '90 and '93 this pattern ushered in a counter-trend rally of about $80-$100 and about 6 months in duration. Will '97 follow suit? Allan P. Harris trendysystems.com

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