Thursday, June 01, 2006

Gold update 2am Eastern Edited 9am est.



Here's the battle in the middle of the night whilst you sleep.
The magic # is 635.25 the lows on the 24th for horizontal support, for short term?

Edit: 624.65 now in play, Larger downside Pivot Targets 582.85 but not sure about that one.
Edit: get your parachute.

Like I said in the previous post, could fall off the table, or hold...
In any event a quick Pivot study on the 30 minute chart gives a target of 624,24 but 635.05 is the pivot that must be broken, lets say 2 hourly closes below there may do it.

My guess is the magic pivot of 635.05 will hold within pennys. At least that is my hope...
Edit: (See what happens when you hope) ...and all this is over before you wake up... and gold heading on up. I think I am too early but we'll see what the stocks do tomorrow.

Btw, heres the latest traffic count.

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