Gold: Next Leg Up

October 13th, 2009

WARNING: This is not a recommendation to buy, sell or hold any financial instrument.

UPDATE 5: USDX: Anatomy of a Failed Bounce Operation, One Minute Interval

U.S. Dollar Index Bounce Fail

U.S. Dollar Index Bounce Fail

UPDATE 4: USDX PRINTS 75.805

UPDATE 3: USDX PRINTS 75.886

WEE!!!@$!$% Watch this…

UPDATE 2: USDX PRINTS 75.909

They’re definitely trying to bounce it, but it’s not working so far. Second try up now.

UPDATE 1: USDX MAKE OR BREAK

One would think that They’re going to try to bounce USDX at any moment, but gold is already up and out. 75.912 is the support on the USDX. Trading at 75.951 right now. I’m guessing gold knows something by breaking out first.

***Get Popcorn Ready***

USDX vs. Gold Daily Interval

USDX vs. Gold Daily Interval

—End Update—

$1067.

Posted in Economy | Top Of Page

One Response to “Gold: Next Leg Up”

  1. lagavulin says:
    October 13, 2009 at 4:04 pm

    What’s interesting is that even Bloomberg is admitting this is due to Central Banks selling:

    http://www.bloomberg.com/apps/news?pid=20602081&sid=a4x9dIJsPn4U

    They do, however, put a positive spin on it by saying that Obama is “willing to tolerate” a weaker dollar to boost exports, so therefore everything is happening perfectly according to plan folks….

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