Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Effective Trading In Our Markets. Learn, then Earn -- Ignore unavailable to you. Want to Upgrade?

To: jtech who wrote (914)	6/28/2002 7:27:42 AM
From: Jerry Olson	Read Replies (1) \| Respond to of 1854

jtech i was sleeping at 1.28AM<G>.... now here's the 2 scenarios for gold going forward...listen up and pay attention... on point & figure, the XAU topped out at 88 recently, only to promptly selloff hard back down to 74...i called that pattern a "High Pole Warning"..mean longs watch out and be careful... i said it would need 80 to reverse up for a potential short there...you remember?..well it did hit 80 and promptly reversed down again to test the current double bottom at 74 again... so "IF" we break and print 72 this index would move lower toward 68 first then 62 2nd target as the markets rally thru July... if the index reverses back up here without printing 72 back up to 80 and then prints 82 breaking a double top there then gold should begin too rally again... my guess is it will NOT happen... and for the gold futures..316 is the plunge number...and 328 would be a new breakout for the futures..and anything inbetween is just noise now..as it has a solid looking trading range... the futures actually broke a triple bottom this week at 317 and broke thru the bullish support line too..both very negative... now...thats a heads up for you...fwiw... ta ta