Very well put Murtaza.
HI
Please refer the attached charts and do comment on thee.
Gold has almost made a parabolic move and the momentum is so strong that the upper boundary, may get punctured on the upside, something similar to what happened in Hindustan Zinc. Other thing that can happen is that price stall around the 18250-18500 level and may reverse.
If the Dubai news is positive for the USD than as Sniper mentioned there could be huge ramifications on equities and commodities.
As I write this sgx nifty is down 63 points at 4917
Fireworks!
cheers
From: Technical-Investor@
Subject: Re: [Technical-Investoryahoogroups. [mailto:Technical-Investor@com yahoogroups. ] On Behalf Of Pankaj Chawlacom
Sent: Friday, November 27, 2009 8:00 AM] Gold update
HI Vinay,
I dont track gold but purely from TA perspective, in 45 degree and upward upmoves
indicators can stay in overbought or over sold conditions for a long long time and
hence are not reliable. In trending times, the tools of TA are trend following tools
like ADX, MACD, BBs, trendline breakdowns, Moving Average crossovers and chart
patterns along with volatility indicators like ATR.
Cheers
Pankaj
On Thu, Nov 26, 2009 at 11:49 PM, Vinay Garg <vinay_garg@airtelma
il.in > wrote:
Dear all
Gold should correct significantly. All indicators are in O/B position in Daily/weekly/
hrly charts. Also please note the discount of over 50 points in Gold and GoldM of Say Dec. The It has been that way for quite sometime now. Same is building in the Feb Contracts too. Looks like traders are long in GoldM and shorting Gold (Big). Correct me if I am off the track
Regards
Vinay
From: Technical-Investor@
yahoogroups. [mailto:Technical-Investor@com yahoogroups. ] On Behalf Of BALASUBRAMANIAM SRIRAMcom
Sent: 26/11/2009 8:43 AM
To: Technical-Investor@yahoogroups. com
Subject: RE: [Technical-Investor] Gold update
Watch the rising channel break....$1200 here she comes.
Another chapter in the annals of the Prechter coast as followers are dashed upon the rocks scrambling for any nugget of gold they can gather. To all that ascribe to the EW theory, I hope you are deeply capitalized to withstand your losses.
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