Memorial Day Gold 655 not much to say

Gold continued it's drop, continues to be hit by the banks in NY. Many expect to see 640 (red line) or less, I would not be suprised.

So long as we don't take out the other lows to the left we may be ok. Others on the gold sites are buying buying.

For me I am long and waiting with mostly jrs.

I suppose there is blood in the streets... look at IAG and VGZ for example. Forced selling?

Be careful out there.

Also recommend www.financialsense.com check the third hour part II broadcast and ofcourse Hoye on www.howestreet.com

Have a good week.

Weekly update Sunday TYO open Gold 662.80

This chart says it all.
Note each test of the Fib Retrace of the full move on this chart.

The trend line break is just another fake out break out?

Pivots point lower but I don't think any lower targets will be reached which will be bullish.

Buy.

Gold 671 Weekend Update

Gold traced an ABC down to nearly the exact pivot point at 664.30 basis cash on Net Dania.

I was suggesting in our live room that the correction and bump was not enough of a correction.

A closer look showed an extreem over sold, (outside the bolband), a hit on trendline support and the pivot touch produced an intra-day buy for me.

The CCI indicator also reached an over sold point.

NOTE: go to howestree.com
and listen to Bob Hoye.

Weekend Update

I would like to thank the few of you who visit regularly looking for updates. Here's the gold chart in a daily and 8 hour with BolBands and trendline.
I like the MACD cross and lower low on the histogram.

Near term hidden pivots point to 704 and 724 as areas to watch. A break of 724 will take us higher.

Recently GSS had a near perfect pivot from the top down to 4.22
(no chart here)

The Canada Dollar vs the US Dollar is making new highs, I wonder if it will be news worthy when the $Canada = $ US.