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Pothole or Not?
May 21st, 2009 at 12:59pm · 3 Comments
Does the pothole for gold prices foreseen by the solunar model occur? Or is this break above the weekly net-line a strong enough signal that propels gold prices to the 1064 area of the upper weekly channel? The bottom line is that any seasonally inspired gold weakness should be temporary. The larger trend is up, and the corresponding technical picture is healthy for the yellow metal.
Tags: Gold · Solunar Model
3 responses so far ↓
1 goldman // May 21, 2009 at 1:23 pm
Chris – The seasonal weakness from May 22-June 5 measures to be about 200pts. Is it a fair assumption to look for a violent selloff into June 5 to trap more bears before the next squeeze past 1064?
2 BearOfNH // May 22, 2009 at 11:15 am
@goldman, there’s two different scales on the chart; solunar on the left and gold price on the right. The lines plotted are independently scaled to fill in most of the vertical chart space.
Net, you can’t presume a solunar drop, big as it looks, will correspond to a similar-sized gold drop. Right now it looks like maybe there will be A drop into early June, but not much of one.
3 wwshep // May 22, 2009 at 1:54 pm
Hi Chris,
Do you have an outlook on Bonds from a technical chart perspective (net lines etc.) as well as solunar seasonal perspective?
Thanks,
Bill
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