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horgad
1000+ Penny Miser Member
USA
1641 Posts |
 Posted - 06/10/2008 : 09:39:06
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I made some crazy marks on a Kitco gold chart comparing past and present bull moves. I am the first to admit that trying to read charts is mostly goofy but it amuses me so I do it sometimes anyways. If it amuses you too, take a look. otherwise cover you eyes.
If we break through the blue line very far and for very long (support), all bets are off (the "bullish" pattern doesn't hold) and we could easily be looking at $650-$700 gold again. Also, the pattern looks like it maybe more consensed this time around...like the up move in gold is anxious to get started again, but that is probably wishful thinking...
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Edited by - horgad on 06/10/2008 09:48:09 |
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 06/10/2008 : 10:53:50
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| It looks like we might be re-testing that blue line very, very soon. I can hardly bear to watch.... |
Edited by - horgad on 06/10/2008 13:24:01 |
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misteroman
Administrator
USA
2565 Posts |
Posted - 06/10/2008 : 17:33:52
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| I lke how on Kitco there seems to be a new chart every day or so |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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Ant
Penny Hoarding Member
USA
894 Posts |
Posted - 06/10/2008 : 18:29:15
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quote:
Originally posted by misteroman
I lke how on Kitco there seems to be a new chart every day or so
I like how on Kitco everybody there is a zillionaire.  |
Lovely dimes, the liveliest coin, the one that really jingles. --Truman Capote
Coins are the metallic footprints of the history of nations. --William H. Woodin |
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Delawhere Jack
1000+ Penny Miser Member
USA
1680 Posts |
Posted - 06/10/2008 : 18:31:52
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quote:
Originally posted by Ant
quote:
Originally posted by misteroman
I lke how on Kitco there seems to be a new chart every day or so
I like how on Kitco everybody there is a zillionaire.
That's from their "fabrication" and shipping fees more than from PM's... |
"Educate and inform the whole mass of the people... They are the only sure reliance for the preservation of our liberty." Thomas Jefferson
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Ant
Penny Hoarding Member
USA
894 Posts |
Posted - 06/10/2008 : 18:37:14
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Oh, I meant the message board.  |
Lovely dimes, the liveliest coin, the one that really jingles. --Truman Capote
Coins are the metallic footprints of the history of nations. --William H. Woodin |
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 06/12/2008 : 07:55:11
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| Well we came darn close to that blue line this morning with gold hitting as low as $856.5. I sure hope that was the worst of it, because like I said if it goes much lower gold looks like it is toast until at least $700. |
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fb101
Administrator
USA
2856 Posts |
Posted - 06/12/2008 : 12:47:42
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| The other technical charts show support for gold at $850 +/- and silver at $15.85 +/-. The other side of this is the longer we stay above the blue line, the more permanent it becomes. I can't post pics, so I can't illustrate, but my bet is we hold above the key support levels. The recent run-ups put us in "overbought" condition, and those situations need to unwind, hence the current volatility. But here's the punch line for me. The gold and silver miners (ie: Newmont and the others) are unhedging their positions indicating their belief that gold will be heading higher soon. |
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nckt
Penny Collector Member
USA
304 Posts |
Posted - 06/13/2008 : 21:11:27
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| very nice chart, easy to understand. |
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Reading the tea leaves....again
Forum Locked
