The black down flag is drawn off the all time high
for this Dec contract at $1048.
This black down flag resolves UP to higher highs for gold
The white Up Flag designated by the recent trading up
from the BIG LOW at 73980 resolves DOWN.
Notice that today's trading took the price down to near
the lower boundary of the white up flag.
The market is VERY OVERSOLD, but due to the
financial crisis in all markets, that doesn't necessarily
mean much, as today's selling was precipitated by continual
Guv'mint manipulation which created panic selling when
the market didn't rebound normally.
The GOLD BULL MARKET is still intact.
We just have to reorganize and see what we have left
and how to properly use it.
If you have CASH GOLD....
for goodness sake, DON'T SELL IT!
When the smoke clears from today, people will be fighting
to get some gold, so if you have any cash, I would be
BUYING GOLD right here and now, if you can find it.
KATHY LUCATERO at MONEX has some that you can
buy on the phone for 25% of the purchase value.