Wednesday, February 18, 2009

5:44AM PST THIS WAS THE LAST TEST OF THE LOW, NOW THE MOVE UP?


gold has to move up here, or it will continue lower as the momentum buyers will get nervous.
There was a good dose of buyer that jumped in on that last low, about 1000 contracts in 2 minutes.
The move up is building now.
The dollar is slipping lower, but I am not giving that much creedence to any of the other markets.
Gold is trading on its own from here on out.
Bonds falling, Oil up a bit, Yen down, Euro up
All looking good for gold.