Sunday, November 9, 2008

4:45PM PST DOES GOLD BREAK UP OUT OF THE RED DOWN FLAG, FIND SUPPORT AT THE TOP BLUE LINE OF THE UPTREND CHANNEL OR RETRACE?


I would not be surprised to see gold go either
direction, but it has just retraced to the 75%
point between the low at 681 and the high at
93630.
It is also nearing the white down trend line which
would offer resistance, but if it blows through that
line, we should see a big spike in the price, unless
somehow the manipulators manage to bash it down
again by selling more gold thru the Central Banks.
Eventually, they will run out of gold to sell.