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.