Monday, December 1, 2008

6:09AM PST GOLD BOUNCES $6 ON MODERATE VOLUME


Now, does it do a retest of the low, or move
higher? It has already passed by the first 75%
retrace point and close to the next one at 78580.
It's moving up very caustiously at this level, and
could pull back suddenly if it doesn't keep moving up.
Those longs that held on during the drop, will be
using every rally to get out if gold doesn't move up
strongly (right now it's dropping suddenly almost 75%)