19. Again, given the fact that gold is being ruled technically by the head and shoulders weekly chart bull continuation pattern, price declines are likely to be reasonably shallow.

20. The technical indicators on both the gold bullion weekly chart and the gold stocks GDX weekly chart are showing the market attempting to make a bottom. The daily charts show a short term top. Here’s a look at the GDX. GDX Weekly

21. Notice in particular the short term 4,8,9 time series of MACD has given a buy signal. Usually, that is followed by the other series, including the 12,26, 9 flagship.

22. Looking at the daily chart GDX Daily Chart you can see the exact opposite picture in the technicals, with sell signals being generated on the lead MACD series.

23. What if price doesn’t stop after a shallow sell off, but instead blows back down into the parallel channel and starts taking out lows? After all, this is the gold market, and the charts, in the final analysis, are just lines in the sand drawn at whim by the banksters dangling the funds around on puppet strings to buy and sell to create the charts with their actions. Well, first off, we’re already more than blessed with how this massive head and shoulders has continued to play out in a picture-perfect action of price.

24. So if price were to do something “anti-pattern” that shouldn’t be taken out of context, so long as price has not violated the right shoulder low, which is at $860. Secondly, even if price did violate 860, I’m a gold buyer of that weakness. There is nothing I see in the current sell-off to indicate anything other than the usual over-leveraged fundsters on the bail at the hands of the banksters who I’ll give you 99.999% odds are on the buy today with their largest buys right into today’s lows. The question is, what are you doing in the gold market into today’s lows?

Courtesy: www.gracelandupdates.com

Post your comment  (0)

Connect:

Post to Twitter

Post to Facebook