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Before we get all ga ga, lets look at
history and see what
the statistics tell us about what has
happened to Gold
prior to now.
Clyde
I can't argue there Clyde.
If we look at the picture, taking the move out of
context, looking at price only, which some people prefer to do, there is a
good case for price to stop there.
However the enclosed gif, which I did a couple of
moths ago (i am not sure I posted it), shows *why* we have the move.
If my logic is correct, and this is a break out
move, and taking into account that it is looong ovedue (due to price
pricemanipulation by some deep pockets - some people argue), this break out is
probably like something we never have seen before.
Didn't Gann say that the 4th break out try will
show the way (or something like that - any Gann expert out there?) - this is
the 4th try on the main
resistance line 1980-1996.
If you look closely at the picture, you will see
that the break takes place EXACTLY at the apex. All downpressure have been
exhausted. Nothing left.
Watch how price has clinged to the upper part of
the trend line for the last 9 months
There is lots of power beneath this
break out.
And finally watch the false break below the
support line last month, which is so typical for gold before a big
move.
It will be interesting to see if the New Moon on
Tuesday will give "new" power to Gold or if is the intermediate top for the
final test of the trendline before the BIG move begins.
more...
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