Thursday, December 18, 2008

4:49AM PST GOLD MOVES UP WELL OVERNIGHT


As I said, foreign gold markets get active near
midnight pst. Gold took off at 11:20 pst and rose
about $17 (while I was sleeping!...damn!)
Pulled back a bit, and is now testing the recent top
just below yesterday's top which Dan Norcini
says is the new resistance area around 880.
DOLLAR MAKES NEW RECENT LOW AT .7878
Euro high is at 1.4687.
The previous Euro high on 9/22/08
is a penny higher at 1.4786
Gold has retraced just over 75% of the whole down
move from it's recent high, and also the last little
up leg, so it may pull back here, but could spike
on the open, and then pull back.