And gold does make a slightly higher high just
above the down flag's top line. Will it continue?
Volume is light moderate at about 200+ contracts
per minute, but could increase in a flash in either
direction
Gold retraces 75% of the last down move and
right to the down trend line and stops.
Now a pull back.
Gold needs to make a higher high to break
out of the down flag or it will just keep drifting
lower and suddenly fall big time as traders rush
to lock in what profits they still have.
I'm surprised that gold didn't drop out the
bottom of the down flag. It still might.
At this level, I would prefer a good pull back
to buy back in rather than gamble on buying a
new break out and getting stuck buying the top
and having the pull back start there.
Dow has managed to move up 100 plus points
but I don't think it will last very long and will
soon begin moving down again. Right now it's
just fools trading with greater fools.
