In looking over the weekly charts I see reasons the dollar
should go higher and
gold
lower.
Bearish Railroad pattern on gold
giving a prejection of $1,020.
On the dollar futures
This would certainly look to be a
"high volume reversal" on the dollar.
ON the monthy, we are seeing exactly the
same set
up we did in Jan. of '08that lead to a pull back of $300 for
gold, now starting from the higher level it could easily be $400
this time.
ditch, the $USD resistance is at 78.50. If you see it going much
higher, how much and what factors are you observing?
Why do you see gold going below mid $1060s level to test the
break out levels? Curious what you see. Gold has been very
resistant to downward moves as of late.
Gold and the Dollar
Posted by ditch on 20th of Dec 2009 at 04:16 pm
In looking over the weekly charts I see reasons the dollar should go higher and gold lower. Bearish Railroad pattern on gold giving a prejection of $1,020.
On the dollar futures
This would certainly look to be a
"high volume reversal" on the dollar.
http://screencast.com/t/YjhlOTZj
ON the monthy, we are seeing exactly the
same set
up we did in Jan. of '08that lead to a pull back of $300 for
gold, now starting from the higher level it could easily be $400
this time.
ditch, the $USD resistance is
Posted by junkie on 20th of Dec 2009 at 04:54 pm
ditch, the $USD resistance is at 78.50. If you see it going much higher, how much and what factors are you observing?
Why do you see gold going below mid $1060s level to test the break out levels? Curious what you see. Gold has been very resistant to downward moves as of late.
Ditch, The URL's did not work
Posted by jambo1 on 20th of Dec 2009 at 04:35 pm
Ditch,
The URL's did not work for me.