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

To: long-gone who wrote (29010)	2/25/1999 3:42:00 PM
From: Giraffe	Read Replies (1) \| Respond to of 116788

buysignals.com Thursday, February 25, 1999 Buy Gold! It's nearly impossible to keep up with the hour to hour swings in market psychology. Markets have fit our prognostications in the morning sessions only to reverse in the afternoon. We'll pocket this Ursa profit (if it holds!) and move to a more attractive opportunity which has been setting up for some time in precious metals. Gold stocks have been working sideways for the past week into the apex of this descending triangle. We've been watching for the telltale break of the lower leg of the triangle as a sellers' capitulation move preceding a strong reversal. Rising interest rates have financial markets concerned. Reflating Asia's economy means higher rates and a stronger currency. New signs of inflation, albeit faint, also encourage higher gold prices. Today's price pattern formed a classic "island reversal" wherein price spikes in one direction then finishes significantly in the other direction by the close. Today the XAU spiked down to key level support at 60 and reversed. Although a greater violation of the lower leg would have been desirable, the interest in this sector may be renewing with the prospect for higher interest rates and increasing inflationary pressures.