"GLD" Gold Chart - Analysis - Reading

Gold just hit resistance and bounced off -- it is in a narrow trading range heading for support at (GLD etf) of 101.55 area, should find support for a run back up to all time highes followed by a huge fast drop. formation the "BIRD" all three schocastics are terminal to bullish postions. this reading was done on SAT. 09:45AM 10/18/09.

the cards are stacked like this, narrow trading range 104.45 top--101.55 low.
I do not anticpate any fast or large moves next few days.
Trading environment factors
weekly - bullish - last gasp - second wave in oversold territiory
daily - bearish - "bullish upside will be sold into" terminal oversold territory
15min. - berish - short term reading - narrow trading range - ultimately terminal - looks like 60 days or so, before the next bull can gain ground with the wind agian.
If the above reading is correct we should soon see dollar bullishness. however, if current numbers are not revised, it doesnt matter - small business is about to go into growing concern status. CIT as proxy for small business - the major lender is CIT.



[edit on 18-10-2009 by Anti-Evil]

I agree with your bearish short term assessment - in fact I think it is going to be a slaughter for the bulls very shortly - not based on technical's, but based rather on guessing what the globalists want to do.

I am very strongly bullish on gold in the long term though.

I think the globalists (through their agents the commercial banks) want to crash the stock market - that will rally the dollar, and very likely crash gold.

I think this will happen in the short, rather than long term.

At the moment, I would be holding physical metal - and moving to a net short position.

The plunge should come and go pretty quickly - have a look at the end of last year - expect a similar move I would say - but the gold rally on the end of it will not be stopped.

next 60 days should conform to the reading. as gold for long term, I prefer the mines and mining stocks than the metal. after all gold has went up 300% from bottom. and the miners are still in negative territory with a upward bias as on the longer term.

www.abovetopsecret.com...&flagit=511591

Here is some other gold news that may have an effect on gold. Interesting developments may be taking place.

reply to post by liveandletlive


I keep it simple - I read the chart - I read the patterns and I read the volume - why on earth would I want to confuse whats really going on.
Charts dont lie, words do.

oh, I'm not a professional or anything ... I just understand and I can see. what ever that is worth.

[edit on 18-10-2009 by Anti-Evil]

Originally posted by Anti-Evil
reply to post by liveandletlive

 

I keep it simple - I read the chart - I read the patterns and I read the volume - why on earth would I want to confuse whats really going on.
Charts dont lie, words do.

oh, I'm not a professional or anything ... I just understand and I can see. what ever that is worth.

[edit on 18-10-2009 by Anti-Evil]

Charts dont lie? Lol. If you say so! What goes on behind the scene effects the charts you read. Must be nice owning a pair of rose colored glasses. Dow 10,000! Guess you think our economy has rebounded and recovered as well.

reply to post by liveandletlive


well no, everything I see is just astounding that it remains so bullish even though I can not find a single pilar of strength... its all bullsheatta.. but I dare you to short it... go ahead - how do you think it got up here... ha ha all on short covering... where are the jobs, where are the earnings, none on all counts = we are destined for a depression on a horrific scale. once it gets moving It aint gonna stop this time..