Gold $650 holds support :-)

Constructive day for the miners GG +6.5% AUY +8.9% (sold 1000 NG bot 2000 TRE) in the trading acct. Iras +5% on the day EZM, NXG, GPMX, PMU et al. see buy points below.

At the moment Gold now $650 approaching the 50 unit ma on a 1 hour bar. This chart setup is quite good at identifying short term tops and bottoms. This combined with pivot studies provides additional confirmation.

For instance the low on the 21st was the end of a C, begining of an A which Measured to within a $ of the top on the 22nd for a $39 gain. Unfortunatly I got too greedy and did not sell, in fact I left for the day without stops and that was it.

Yesterday, I suggested that a 2x bottom could form and so far that is the case, At the moment we are tangling with the 50 unit moving average and trend line resistance just above it.

My take is we are up from here... US markets closed on Monday so the "boyz" won't be messin around. we shall see as we have a lot of work to get to new highs.

Thanks for stopping in, Jim Beautiful day her in Alaska 76 and sunny, out to the garden.