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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: skelly who wrote (14637)	7/18/1998 4:43:00 PM
From: G.T.	Respond to of 116764

I have been reading this thread for months and I must say both sides are presented very well for gold going up or down. I have been using T/A to follow gold and it has done very well in predicting the forward price. Currently gold continues to give a sell signal on a monthly chart going back to 1996. The weekly chart is also giving a sell signal after giving a two month buy signal this spring. On the bullish side gold has been building a bullish rising bottom from the $278 Jan 98 low and the recent June low of $285.55. This rising trend line offers good short term support now at the $287.50 level. A flat top has formed at the $297.50 to $ 301.00 level, gold needs to close above this level to validate that the current down trend is broken and indeed that the trend to higher prices would unfold over the next several months. On the bearish side a breakdown below the June $ 285.55 level and new lows would likely unfold. With gold moving into a tighter trading range a breakout one way or the other will unfold this week or next at the latest.