YuChen

Thanks for the definition Pixel8r! That's the first word that came to my mind when I was writing that.

I am no expert, but I think there are "confluence" of reasons to believe a bounce is about to take place: COMEX Gold: CME Japanese Yen: USD Index: All the weekly and monthly charts are hitting a line where a bounce tends to occur. EMA's used: 81, 20.

COMEX closed at 814.5, day high 842.9. Not a very good close but I think a bottom should be in either this week (1 more trading day to go) or next. Fingers crossed!

Is very kind of you DrBubb! I am trilled to have found your fantastic forum here!!! No, nothing to do with the painters.

http://www.bhcinvestment.com/2008/08/crude-oil-vs-gold.html

Hi all! First time for me to post here. I have been a reader of bhc investment edited by a guy who calls himself Boon. I think Boon is also expecting a bottom in Gold to form very soon, though he bought it slightly above 850: Note #3: Crude Oil broke out of its 100 psychological level before making its roaring surge to 14X (see figure above). That roaring surge was what happened after a pullback re-action. The pullback in Gold right now is a similar re-action following the breakout of 850. Once this re-action is completed, Gold will enter its next roaring surge. Panic selling Gold now is like selling Crude Oil at 95 before its roaring surge to 14X. Note #4: Different analysts will always have different views on things, because (1) they don't know what they are talking about; and (2) they focus on the wrong time frame. The most important time frame for Gold is the multi-year chart (see figure above).