5 replies to this topic

[Thunders]

Just wanted to put this out, the XAU has room to move up…Look at the reverse head and shoulders…

The only thing that could stop this would be raising interest rate and feeling secure from the world…

As interest rates go up more people will pull money from Gold and put in banks for safe interest giving accounts…

As soon as comfort downs and interest rates go up people will jump ship from Gold stocks….

[rosedale]

Hi, If you are going to go with the head and shoulder pattern, you have the know that the price objective has been met. Further, the objective came in resistance area. It would have been better to have recognized the H+S at 60 through 75.

[Thunders]

Hi rosedale My price objective is=150 Then a possible cup and handle formation for much higher price… This will depend on the events in the world… if we are safe and interest rates go up it will not happen…

[SilentOne]

Hi Thunder,

Here is a good illustration of the larger reverse H&S you refer to. I agree, target 150ish.

http://stockcharts.com/def/servlet/SharpChartv05.ServletDriver?chart=$XAU,uu[w,a]maclyyay[d19941021,20041231][pb9!b21!b50!b200][vc60][iub14!ua5,34,5!lh5,5!li10,10!lp14,3,3][J25294069,Y].gif

cheers,

john

PS Finally figured out how to post an F*&%^ chart.

[tradesurfer]

thunders, I am surprised you think that the raising of interest rates will cause the gold run up to end?? the reason is , is that you must recognize that the raising of interest rates will try to catch up to ACCELERATING inflation... and each time interest rates are raised, they will be one notch behind the accelerating and raging inflation. so, gold will still go up in response to the INABILITY of the fed to catch up quickly enough with accelerating inflation. ts

[Thunders]

tradesurfer


Here is an article for you…

Wednesday April 7, 3:11 AM EDT
By Hideyuki Sano
TOKYO (Reuters) - The dollar rose on Wednesday, nearing a four-month high against the euro, on the perception that the U.S. Federal Reserve could raise interest rates sooner than later following recent healthy U.S. jobs data.

http://money.excite....us-t278539.html