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Non-Tech : The Woodshed -- Ignore unavailable to you. Want to Upgrade?

To: baystock who wrote (17203)	11/27/2004 2:28:02 AM
From: baystock	Respond to of 60899

Looks like Roffey and nspolar are on the same page regarding POG/Rand: gold-eagle.com >>Whilst the North American gold stocks have gone into orbit the South Africans are lagging due to the effect of a very strong Rand. But the Dollar / Rand chart has also mapped out a short term flat top broadening pattern that indicates a weaker currency going forward, not a further strengthening to R5.50 to the dollar. There is a flat top at R6.22 and any move above this will see a much weaker Rand to at least R6.55. This is probably the most important technical chart at this point of time. When we combine the previous two charts we end up with the data for the Rand price of gold. There is no doubt that there has been a powerful downside trend on this data for the past three years since early 2002. But the RSI has been refusing to confirm this position for the past 18 months. In addition there is a short term flag pattern that has formed during the past three months. Flags are bullish patterns that are reputed to indicate the half way stage in the bull trend. This implies that a move above R2700 an ounce will trigger a rise to at least R3200 an ounce. A gold price of this level will cause the shares fly. After this move there is a second count to R3650 but we will deal with that once the price has broken out of the critical flag pattern. <<