Posted on 08/27/2009 9:03:52 AM PDT by h20skier66
Mid-Week Gold, Silver, Nat Gas & Oil Update
So far this week we have seen commodities move sideways with traders and investors waiting for the US Dollar to rally or continue dropping, which will trigger the commodities to move. I have provided some below charts showing where prices currently stand.
GLD Gold Trading Fund - Weekly Chart
As you can see on this weekly chart gold has been consolidating for the past 5 months. This bullish pennant pattern is hinting that prices will breakout to the up side in the coming weeks. If for some reason we see the USD rally then I expect to see the price of gold move down as traders rush to sell their gold bullion. I continue to watch and wait for the next buy signal for gold.
Vermeulen is a technical trader, not a broker. He sells a news letter and publishes technical trading chart analysis several times a week on Gold, Silver, Natural Gas, and Crude Oil.
(Excerpt) Read more at commoditynewscenter.com ...
The way of the dinosaur?
I predict one of three directions, up, down or sideways
Normally I don't believe any predictions and ridicule those who do. I think I will agree with your prediction, this time : )
I predict one of three directions, up, down or sideways
————————————————————————————\\
LOL. Best line from a Woody Allen movie, ala Nostrodamus
“Two nations will go to war. Only one will win.”
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.