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Re: U.S.$ Index/Backing off Resist//GOLD/Lee *PIC*

Gold has to clear resistance to mean much of anything. Most of the major Gold stocks broke out above their downtrendlines a little and pulled back to their breakout pts yesterday and rallied into the close and followed through to the upside today as well. So far much improved and seasonally right on schedule. But Gold still has its work cut out for it. And Silver has been in a very tight range riding its 3.5 year uptrendline after testing major support at 26 in June. The Silver to Gold ratio is still at an extreme of about 58 to 1. And Silver historically has its yearly low in mid to late August. So that is due for a rally as well into early Oct if history repeats. That has been one of the strongest times of the year for Silver and Gold. Oct tends to selloff and then the precious metals usually rally from Nov into Feb. So we'll see what happens. DX is backing off still and until it can regain its uptrend should see further losses with inverse markets rallying. That alone can make many markets rally without all the b.s. news stories out there to jump up and down about. I try to avoid reading them and just watch the charts as they are the only thing that leave footprints to track. They can't hide the price patterns. They can only b.s. the world with camoflage.

Messages In This Thread

U.S.$ Index/Backing off Resistance *PIC*
Re: U.S.$ Index/Backing off Resistance/Trades
Re: U.S.$ Index/Backing off Resist//GOLD/Lee *PIC*