FWIW

Back in March, I made a "Twilight Zone" gold chart...I have mashed it up with the marketskeptics chart to see how 18th March 2009 fits...

Thanks for the link Goldfinger. Made me find this, which is priceless! http://www.marketskeptics.com/2009/07/grap...on-of-gold.html

Simple is good - means more traders will see it and act on it! Have a good 4th July!!! I hope the PPT are on their hols!

Well said Jesse! Wanted to get your thoughts on this picture: I think she will go down to at least 89.66...

Well 4 out of 5 aint bad....well after having a closer look, yesterday's close was 926.30, today's open was 926. So there you have it 'technically' I am right! So it is 5 out of 5! The fisherman's also just posted some lovely TA...cheers jesse - I thought I was the only one on here who liked pnf charts!

Some more observations...and some pre-flight checks... Candlesticks - check Cup & handle - check Bounce off lower median line - check Highest close in 14 days - check Closes over 38.2% Fib retracement - check Some concerns... Friday is a holiday in US, so tomorrow ppt will probably pull us back down a bit; may be a great time to get some more gold?

OK - I thought I'd give a quick update on my observations on the daily 'cup and handle' candlestick formation. I have used SMA, Median Lines and Fib retracements. I will not enter a long trade until I see a retest and confirmation of support at the 916 to 920 area. This is highlighted in the green circle. I am sure PPT want the price to be somewhere in the region of 880, which would continue the flat 12 month sma. Also, as Tim Morge (http://www.medianline.com) say's "Head & Shoulders" is just a shampoo.

Well something is different this morning... Gold up, silver up, cable up and through a resistance area of 1.6590....

Actually I think the correct term would be 1 over infinity...as close to zero as you can ever get, but not zero! Paper and ink must cost something!

Got to 944 pretty quick...945 needs to be hurdled...

Wasn't that also a quote from Ben 'Helicopter' Bernanke?

Thanks! I think there will be a pool of buy orders accumulating between 941 and 947 and if they drive us over 954 then it is lift off...

Maybe this? http://news.bbc.co.uk/1/hi/business/8117138.stm $10 moves are so old hat now!

I didn't know that mish liked gold... http://globaleconomicanalysis.blogspot.com...at-does-it.html

Thanks to Dr Solar for pointing me to this pdf http://www.howestreet.com/articles_as_pdf/...o%20Warning.pdf It showed me that stockquotes have this! http://stockcharts.com/h-sc/ui?s=$GOL...id=p07425274761 I will play with it tomorrow!

I had a look at Goldfinger's charts. These are my observations: Looking at the chart below, I saw two distinct areas of support and resistance. I also highlighted the 60 horizontal line, as it looks to be a good mid point. The shorter horizontal lines are me thinking of the extreme high and low values. I used them to put a fib retracement overlay on to them. I had to guess at the values as 101 and 5 as I don't know what they really are. What is nice to see is that the 38.2% fib is providing support at our support area. So what are my conclusions? I don't think we will see the GoldSilver ratio less than 40 again. (but never say never especially if gold goes up and silver stands still) GF - would you be able to plot the difference or width between the gold and silver price? I am not really very familiar with thinking in ratios...I think if could overlay them then it may look a bit like bollinger bands? Just thinking out aloud...while i'm at it simple moving averages of 10, 20 and 50 months would be really cool!

The May '06 support is around $13, so could work. I bet there are a load of buy orders between 13.0 and 13.6; I wish I could see these orders. I wouldn't mind trying some TA on the gold/silver ratio, anyone got the data handy? Or a website that tracks it? Also today we tested 13.6 area of support again, and survived...

I thought as I have my TA crayons out, I might as well have a look at Silver. I have been ignoring ag for a while and just concentrating on gold! Anyway, here are some of my observations: 1) The 38.2% Fib level is acting as support. This is around $13.64 level. 2) The 9 Month SMA acted as Support and Resistance in the past 3) All the moving averages are lined up correctly and the Trend is screaming UP! Actually looking at the Silver chart has made me decide to buy more silver rather than gold! Anyone got an opinion? (I know opinions are like ar*eholes - Everyone's got one!)

Thought I'd put on my TA hat for the monthly gold chart. Something really interesting lept out at me in this chart. Can you see the 12 month SMA is acting as resistance and then support? The fact it also looks to have flat lined could be a conspiracy theory post in itself, but let's not go there (yet). It also coincides nicely with a 61.8% fib... Also, I drew 2 Median Lines, one from 2004 and one at the same angle for credit crunch era (2008). Can you see the ascending triangle with the 100% fib level? If my daily 916 doesn't hold, then my monthly 904.55 will be where the fight happens, and if that does not hold then 880 will be where wars break out. I don't know or really care how much gold will go to; I only care that when I buy my physical the spot price is the lowest. Is there anyone out there who has a different opinion? I am open for alternative views or even views that support me!

918.41 is the exact level of my 38.2 fib (using shadows as per picture)... As my forex book keeps telling me, these are area's of support and not exact entry targets!

I am still observing the Gold Cup & Handle formation as I believe this week will be a key week for gold. I am looking at 3 key peices of information: 1) 916 act as resistance and support in past - will 916 area hold? 2) 38.2% Fib level is very close to 916 level (If you draw the fib disregarding the shadows then it is bang on) 3) 100 day simple moving average is very close and may act as support. Anybody like to discuss?

Good read here with important history... Might help some people or it might not... http://www.gold-speculator.com/mark-lundee...lver-comex.html Quote I Like: The “reserve currency” feature in the BWA made the US dollar gold’s replacement for monetary reserves internationally, and the unit of account for settlement of international trade imbalances. To protect the system from inflation, the US Treasury was not to issue more than $35 paper dollars for every ounce of gold held in its gold reserves. Unfortunately, no one has more disrespect for Federal Law than Washington’s “policy makers.” Ten years after the ink dried on Bretton Woods, we see in the chart below how Washington started printing paper money in excess of its gold reserves. After WW2, much of “America’s gold” actually belonged to European banks. Their gold was brought to America during the 1930s for safe keeping from Hitler. They had no problem depositing their gold in the NY Fed’s vaults, * until * Washington began printing paper dollars in excess of their gold reserves. For the second time since 1913, the paper dollar became inflationary.

Got to $936 tonight...and she is holding up well. Let's wait for tomorrow to play out. Steve - I feel something in the air as well - the TA is setup, and the 'news' seems to be a perfect fit.

I'd like to publicly thank CGNAO, GoldFinger, Bubb and all the other great posters on GEI that have given me the history, courage and conviction to 'understand' gold. Well at best as my little brain can cope with! I wasn't even alive when we went off a gold standard on 15th August 1971, but in case you remember it or need to be reminded of it here is some mood music of that era. From: 8. I'm Still Waiting Diana Ross - Chart Topper: August 21 - September 18 "I'm Still Waiting" first appeared on Ross' 1971 album "Everything Is Everything". It was a mild success in the US, reaching No. 63 on the Billboard Hot 100 singles chart. However, in the UK singles chart, it reached No.1 for four weeks in August 1971, prompting a re-title in the UK of the album "Surrender" to the title "I'm Still Waiting". Although initially intended only as an album track, BBC Radio 1 disc jockey Tony Blackburn featured it heavily on his morning program and persuaded EMI, who then issued all Tamla Motown material in the UK, to release it as a single. I can't help but read 'more' into the UK album title change!

943 level is key - if she breaks through this, the $ is toast! I am keeping my left eye on the £ and my right eye on Gold!