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To: Zardoz who wrote (2421)	12/2/1998 2:01:00 PM
From: Giraffe	Read Replies (1) \| Respond to of 80976

>>which is not draw correctly either, suggest a resistance around 96-97. should that be broken, than gold will collaspse.<< And if the resistance is confirmed and the rally fails?

To: Zardoz who wrote (2421)	12/2/1998 2:44:00 PM
From: chevalier	Respond to of 80976

While the MACD on your chart is in a short term downtrend at the moment you must give credit to the fact that the MACD has made a positive divergence with price since December 1997. The low made in December 1997 on the MACD was not surpassed by the August 1998 low and the October 98 high surpassed the April 98 high. Typically this is a bullish divergence suggesting the XAU has put in a bottom. Short term , however, it appears that you may be correct that the XAU is heading a little lower but I don't think that much lower than its current level. I hope that you will put up your chart every so often as it is well drawn and more informative obviously than the Decision Point chart.

To: Zardoz who wrote (2421)	12/2/1998 5:54:00 PM
From: Broken_Clock	Read Replies (1) \| Respond to of 80976

nice charts. I agree that DXY has solid ceiling at 97ish. One attempt has failed so far. The decisionpoint dollar chart shows dollar has broken down from the steep rebound of recent weeks. the DOW is showing a H&S on the hourly candle chart.http://www.iqc.com/chart/default.asp?period=120&chart=candle&chart1=bb&time=60m&i0=1&i1=6&i2=3&i3=7&db=&s=linear&symbol=%24indu It does seem as though the xau is showing increasing weakness compared to gold...perhaps xau is bringing the gold/xau back into alignment. Is comex close to 50/50 on net long vs. short? is there an imbalance? how will this play out as some roll over and some close out? I would agree that gold is not too snappy considering DXY has faltered, whcich leads me to believe that traders think the US$ may have one last charge towards 97???