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<p>[QUOTE="Cloudsweeper99, post: 1568933, member: 3011"]I've mentioned this before, but if you look at a 2 year gold chart, it is in the process of forming a cup and handle basing formation. The recent move down fits perfectly with this. I have no idea whether the formationw will succeed or fail, but it would not be out of character to see a drop as low as about $1625 before the next leg of the bull market starts, or it could start earlier. If the price subsequently breaks above $1800 and holds for 3 days or so, it might be off to the races. A trader would wait for the breakout to buy to minimize downside risk.</p><p><br /></p><p>I didn't believe in technical analysis for a very long time. I don't know why this stuff works, but it seems to.[/QUOTE]</p><p><br /></p>
[QUOTE="Cloudsweeper99, post: 1568933, member: 3011"]I've mentioned this before, but if you look at a 2 year gold chart, it is in the process of forming a cup and handle basing formation. The recent move down fits perfectly with this. I have no idea whether the formationw will succeed or fail, but it would not be out of character to see a drop as low as about $1625 before the next leg of the bull market starts, or it could start earlier. If the price subsequently breaks above $1800 and holds for 3 days or so, it might be off to the races. A trader would wait for the breakout to buy to minimize downside risk. I didn't believe in technical analysis for a very long time. I don't know why this stuff works, but it seems to.[/QUOTE]
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Natural Disaster (Sandy) and the Price of PM's??
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