Thursday, October 16, 2008

7:34AM PDST GOLD NOW MOVING SIDEWAYS TO DOWN SLIGHTLY


Gold has built a slight down flag, but if it doesn't
start to move up with some boldness, it will more
than likely sell down to the low and slightly below
before moving up. That is unless the "powers" want
to hit it again in order to hit the 75% point at 78890
which gold typically will hit eventually before finally
rallying, so be alert to that.
Dollar is up to .8292 after hitting .8300.
Down sinking fast..hitting 8311 before bouncing a bit.
Euro near 1.3380 after falling from 1.3533
Oil at 72s on low side of the range of 71s to 74.50