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Spot Gold (XAUUSD) Intraday chart Update 1970-01-01 00:59:59 Below is spot gold 4 hours chart (click on the chart for larger view) ...

Gold Market Commentary 1970-01-01 00:59:59 Dear readers, In order to understand the current price behavior of gold you have to go back to the early 1980. Back then gold topped at 850$ an ounce, this is also the all time nominal top as most of you probably know. After going extremely parabolic and rising more then 100% in less then 2 month the price of gold immediately crashed back to 500$ in less then two month. Few month later a ...

Dollar Index (USDX) Elliott Wave Update 1970-01-01 00:59:59 As it seems the USD index is at or near a bottom. If my Elliott Wave count is correct then wave 2 is completed and wave three up is expected to begin and carry the USD index higher then the top of wave one(85.45). for longer term USD index charts and Elliott wave count see Saturday, December 02, 2006 US Dollar Index (USDX) Elliott Wave Update ...

Tricky Gold Market Part II 1970-01-01 00:59:59 Dear readers, Today gold had a big up day after yesterday big down day. Interesting to note that the April Future contract (ZGJ7) high of the day was 703.2$!! . At the same time April Contract at the COMEX (GCJ7) traded not higher then 686.5$. Apparently all buy stop orders at the CBOT where triggered creating a spike up and arbitrage opportunity. This is something that already happened before ? ...

GLD Chart 1970-01-01 00:59:59 Dear readers,The GLD chart is annotated with the uptrend channel inside a one year trading range of about 17$ which equals to 170$ in the dollar price per gold ounce. The chart includes the ETF volume bars and two indicators, RSI and PPO which both in the overbought territory after up trending since June 2006. Dear Readers, Your comments, suggestion and requests regarding the blog content, design, Etc. are always appreciated. Feel free to comment on the relevant post or email me directly at realggp@hotmail.com Thanks! Tony Carmel (troy) ...

Gold Market Commentary 1970-01-01 00:59:59 Dear Readers, Despite of recent spike in the price of gold and silver, gold indices continue to under perform, see recent Gold Indices Review.I wish to share with you an advertisement I saw at yahoo finance HUI page:This more then all is a symbol for the current market sentiment, everyone seems to be bullish about gold lately, gold being a popular topic for main stream investing blogs, The extreme bullish sentiment implies extreme caution, I do not recommend initiating any new gold or silver positions at this time. Ride your existing positions and take profit according to your trading style and time frame.Mitsui Global Precious Metals, Haliburton Mineral Services and Virtual Metals Research & Consulting published the global gold hedge book report. Q4 2006 Hedge Impact declines 1.5 million ounces to 40.2 million ounces. Total dehedging for 2006 was 13.4 million ounces. See the full report hereDear Readers, Your comments, suggestion and requests regarding the blog content, design, E ...

XAUUSD Update 1969-12-31 17:59:59 Dear readers,Lets go straight to the point, given the extreme volatility, gold defined a trading range of 33$, 655$ - 688$ for the spot price. In my opinion gold can stay inside this trading range for some time as new positions are building up. A break below the trading range will send the price of gold towards 600$ while a break above and the 2006 high (730$) comes to play. Which way will it go? Well, can go both ways and ultimately depends on where the stop limit orders will be positioned. Continue to be cautious, Play the game or be played! Dear Readers, Your comments, suggestion and requests regarding the blog content, design, Etc. are always appreciated. Feel free to comment on the relevant post or email me directly at realggp@hotmail.com Thanks! Tony Carmel (troy) ...

Gold Chart Analysis 1969-12-31 17:59:59 Believe it or not this correction is not meaningful when viewed from a cycle analysis point of view, such as Elliott wave count.I have tried to warn you in the several last posts and I hope that at least some of you took profit on speculative short term positions.Long term positions should not be affected at all and anyone should be aware that those steep and sudden sell offs will repeat from time to time.As you can see on the short term gold chart below gold is retracing its 2007 advance. The price of gold is already down about 50$ from the latest top. Gold closed the week below the 50% Fibonacci line and the 50 days moving average. Don?t be surprised to see more short term downside, Pay attention to the 200 days moving average and the 76.4% Fibonacci level.Looking at the one year chart, note that the price of gold is still inside the uptrend channel. The channel which begun at October 2006 is valid but it is not as meaningful as this year low (labeled ii). There is one more noticeabl ...

Gold, Silver Update 1969-12-31 17:59:59 Dear Readers,One can notice the extreme bullish sentiment quickly vanishing. From a technical perspective the downtrend is decelerating but that can quickly change. Gold finds some temporary support at key Fibonacci levels. Silver behave the same as gold with a little more upside / downside kick. The weekly indicators are ok, daily still bearish and the intraday are mixed (some positive, some negative). I'm attaching a one year daily spot silver (XAGUSD) chart annotated with Fibonacci levels; see previous posts for identical gold chart if needed. Enlarge chart for better view. ...

Spot Gold Charts Update 1969-12-31 17:59:59 Gold, Silver and precious metals shares continue to recover today. As I see the situation the metals must be a better long term buy after last week drop, however I'm not totally convinced that the bottom of the move is in so traders should be cautious with leveraged short term positions. Uptrend channel still intact on the daily XAUUSD chart.Spot gold Intraday chart, 2 hours candles with Fibonacci retracement levels. ...

¥ Japanese Yen Long Term Chart Analysis 1969-12-31 17:59:59 The Yen Is a hot topic lately and so called "Experts" decided that Yen is to be blamed for the recent volatility hiccup of the global markets. Well, it is true that gold in term of yen made a new 20 plus year high just recently whereas in terms of USD and Euro it did not. This fact might be important to remember.As for the USD/JPY pair?Let's put aside the carry trade and interest rates and look at the charts.From the 30 years chart we can learn that the Yen bottomed / USD topped at 1982 some 25 years ago! Back then 1 USD was worth about 277 Yen. Between 1982 and 1995 the USD declined to about 79 Yen for a loss of about 71%. Note that the 13 years decline was done in a three wave's pattern. According to my count the USD/JPY is currently in wave (iii) and headed higher then 135 ? wave (i). If you need a basic wave guide I highly recommend that you use this free Elliott wave tutorial.Note that 50 month MA is as stable as ever and volatility is relatively low for the last decade as the ...

Gold & Silver Charts 1969-12-31 17:59:59 Dear readers,The price action of gold was somewhat mild recently as the money metal consolidated around its 50 days moving average. The uptrend which connects the October 2006 and January 2007 lows is still intact, additional support levels at the 200 daily MA and a bit above the January low. In my opinion there isn't much conviction yet as if another leg up will begin from here or is further decline might be required. Silver is looking to me a little bit stronger but not much strong either. The HUI is indecisive at best and lately I was bubbling something about the approach of long term buy & hold commodities? ... Amp

XAU/USD Intraday 1969-12-31 17:59:59 Gold followed silver for a new monthly (March) high. The top to bottom chart is annotated with Fibonacci levels and the uptrend channel. All action options are open but the action will be dependent on options... The current short term chart pattern is a perfect example of the limitation in Elliott wave analysis: Is it a (A-B-C) uptrend pattern or a five wave pattern? ...

XAUUSD Update 1969-12-31 17:59:59 The short term uptrend was broken on Friday. Gold and silver are currently vulnerable for more downside. Successful retest of the uptrend line should be a short term buying opportunity. Enlarge chart for better view.XAUUSD intraday chart Please update the feed to: http://feeds.feedburner.com/blogspot/mSBH ...

XAUUSD Chart 1969-12-31 17:59:59 Dear readers, Gold pulled back a bit but held at key Fibonacci levels , as things stand out gold might not touch the lower uptrend line , I have annotated the XAUUSD chart with a new uptrend line , the new uptrend is steeper and suggest that gold can accelerate to the upside. Click on the chart below to enlarge.Spot Gold (XAUUSD) Intraday chart: Please update the feed to: http://feeds.feedburner.com/blogspot/mSBH ...