MAGNES
28th December 2011, 02:53 PM
So we were talking about a setup like this earlier.
Some sort of low expected during this period and Expirey, yesterday was Expirey, 27th.
Is this a bottom, GC just broke down on a pennant it formed, right
at the 200 as well, right near expirey, chart looks very very weak.
Next few days is key.
Here are some previous comments and chart, made on Dec 14 when
GC broke through 200.
Good trading opportunities are possibly coming, or just shopping for physical,
analysis on gold and pulling the trigger on silver.
This SI drop is not unusual, it ain't that big, $2, where gold is sitting is a
bigger deal, we usually get drops in DEC, and usually
there have been setups for short plays, the Gold chart doesn't
look good, bottoms basing sideways, one upside down cup after
another and breakdowns and it formed a pennant, that broke to the
downside at 1700, sitting on roughly 1600, looks bad. Second week of
DEC is good point for a setup to go short, the peak was first week and that
opportunity was not great, to go short on SI. I expect some sort of short during
expirey. It would be blatant for them to do a full correction now but that never
stopped them before. Silver is going to follow gold. The serious breakdown actually
occurred a few days ago when gold broke down on the pennant formed.
People are trading these points, the pennant breakdown,
today is more significant than Sept too. It's not a blow off bottom.
Watch gold , not silver, this is basic.
This is a good chart I have linked to many times.
http://stockcharts.com/c-sc/sc?s=$GOLD&p=D&yr=1&mn=0&dy=0&i=p42106480801&r=3990
http://i42.tinypic.com/1052lw8.png
Some sort of low expected during this period and Expirey, yesterday was Expirey, 27th.
Is this a bottom, GC just broke down on a pennant it formed, right
at the 200 as well, right near expirey, chart looks very very weak.
Next few days is key.
Here are some previous comments and chart, made on Dec 14 when
GC broke through 200.
Good trading opportunities are possibly coming, or just shopping for physical,
analysis on gold and pulling the trigger on silver.
This SI drop is not unusual, it ain't that big, $2, where gold is sitting is a
bigger deal, we usually get drops in DEC, and usually
there have been setups for short plays, the Gold chart doesn't
look good, bottoms basing sideways, one upside down cup after
another and breakdowns and it formed a pennant, that broke to the
downside at 1700, sitting on roughly 1600, looks bad. Second week of
DEC is good point for a setup to go short, the peak was first week and that
opportunity was not great, to go short on SI. I expect some sort of short during
expirey. It would be blatant for them to do a full correction now but that never
stopped them before. Silver is going to follow gold. The serious breakdown actually
occurred a few days ago when gold broke down on the pennant formed.
People are trading these points, the pennant breakdown,
today is more significant than Sept too. It's not a blow off bottom.
Watch gold , not silver, this is basic.
This is a good chart I have linked to many times.
http://stockcharts.com/c-sc/sc?s=$GOLD&p=D&yr=1&mn=0&dy=0&i=p42106480801&r=3990
http://i42.tinypic.com/1052lw8.png