Friday, January 16, 2009

9:20AM PST AND GOLD DOES COLLAPSE, BUT HOW FAR?


Gold is on the 50 day MA
Dollar moves up further to .8491 (a new high
for the day)
Dow, Oil, Euro still trending down
But gold is also very close to the 75% retrace point
at 83290, and is NOT showing that month strength
to the upside.
It just sank lower.