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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: Alan Whirlwind who wrote (10482)	2/17/2001 7:23:25 AM
From: sea_urchin	Read Replies (2) \| Respond to of 81177

Alan : Thanks for the compliment! Strictly speaking, a bull market in the gold price cannot be confirmed until the last previous peak, at $850 in 1980, is exceeded. Accordingly, all price rises until that point are regarded as bear market rallies. However, from a technical point-of-view, the penetration of the existing resistance lines (joining the tops of the peaks of the down trend) by the rising price could give confidence that the down trend had indeed changed into a long-term uptrend (= bull market). Suitable charts can be found here : fyii.net The first major line is found by joining peaks at $420 in 1996 and $325 in 1999. Today, that line is just under $300. The second major line joins peaks at $510 in 1987 and $420 in 1996. Today, that line is at about $380. I would say that a significant penetration of this line would indicate that the bear market was finally over. As you can see, we are a long way from that.