Thursday, June 11, 2009

GOLD RALLIES 75% OF THE ENTIRE DOWN MOVE AS DOLLAR FALLS TO .8007, DOW RISES 80 POINTS, EURO MAKES NEW HIGHS


Gold is being limited by the top blue uptrend channel line.


Gold is slammed early in the Crimex session, as usual.

It struggled to rise at first, but finally took off on good volume.

It zipped past most of the stopping points until it reached

the 75% retrace point for the morning's sell off from the

early morning high at 95910 down to 94250.

A pull back from here is normal, but how far is the question.

Gold is still rising above the 75% point as I type, but be assured

there will be a good pull back soon.