Tuesday, April 14, 2009

GOLD RISING AFTER THE QUICK OPENING SELL OFF, SHOULD RETEST THE LOW, MAY GO EVEN LOWER


Gold is stopped at the most recent high made
on the selloff and is pulling back now. Retest
of the low is coming.



Volume on the little rally is decent but not the

size usually seen as gold rebounds strongly.

This is 'cautious' buying, and usually sells off

and retest the low just made, goes a little lower,

then rebounds or retests the low once more or

even goes a little lower before putting in the final

rally. I still say the Sunday opening gap will be filled