Gold above 1200$ an ounce in 2009?

[cunparis]

Quote from daddyeaux:

some of Chan's gold charts are about to flip bullish

I follow the guy since he does all the charts for me.

The URL is http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID530404.

I don't see much bearish here. He's ignoring the larger timeframe downtrend. There is also massive negative divergence with the MACD.

 

[daddyeaux]

Quote from spersky:

It is still in a downtrend believe it or not. This is a potential great shorting opportunity. It would need to break 900+ and stay above it in order for the current long term downtrend to be broken.

yep, it's gotta clear $930 and hold it on a weekly close.

i still think the Euro is in a death spiral which is dawning on the Joe12Packs in pinko Europe.

maybe they are the ones driving gold to records in various currencies

 

[daddyeaux]

Quote from spersky:

It is still in a downtrend believe it or not. This is a potential great shorting opportunity. It would need to break 900+ and stay above it in order for the current long term downtrend to be broken.

it a relativistic world, you have to net out, despite nominal prints that tend to mislead

 

[daddyeaux]

rats.. here's the chart

 

[SethArb]

on a short term basis all this speculation is meaningless

perhaps gold does have a use as part of a portfolio along with silver long term

short term ... the money flows in and out of it like everything else

 

[daddyeaux]

this chart looks pretty good for the bulls if we don't get some failure next week

 

[ess1096]

Quote from daddyeaux:

this chart looks pretty good for the bulls..............

Sure it looks good for the bulls considering you ignored and left out the March 2008 peak which is where a true trendline should begin.
For a short term trade, yes you are right. But for now the bears still own the longer term chart.

 

[Compulsive]

It feels good when you are right, but damn when you are wrong and you tell the whole world about....idiots

 

[paperboy]

There should be an important top in Gold around here. And Silver looks like it will soon head south again.

 

[cunparis]

Quote from paperboy:

There should be an important top in Gold around here. And Silver looks like it will soon head south again.

Care to explain why you believe this?