Comments on: Gold’s Make or Break Zone Coming Up http://blog.afraidtotrade.com/golds-make-or-break-zone-coming-up/ Helping traders overcome fears and emotions in trading Thu, 09 Feb 2012 12:53:25 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Richard http://blog.afraidtotrade.com/golds-make-or-break-zone-coming-up/comment-page-1/#comment-127613 Richard Fri, 01 Aug 2008 07:49:28 +0000 http://blog.afraidtotrade.com/?p=2703#comment-127613 I really like your first chart because it shows gold in breakout since June 23, 2008 when it escaped its former pennant consolidation. It was at this time that the yen carry traders sold out of the BRICS, EEB, because of risk aversion to inflation and went long gold. Yes, gold traded up today, while the US Dollar, stocks and oil trade lower. Stocks like the Russell 2000, IWM, which closed at 71.49, are in a pennant pattern; they are likely to fall from theirs and gold is likely to head higher. Gold is not riding oil's coat tail any more! Gold relative to oil, GLD:USO, is rising, documenting an investment demand for gold. More analysis is available on the linked webpage. I really like your first chart because it shows gold in breakout since June 23, 2008 when it escaped its former pennant consolidation. It was at this time that the yen carry traders sold out of the BRICS, EEB, because of risk aversion to inflation and went long gold.

Yes, gold traded up today, while the US Dollar, stocks and oil trade lower.

Stocks like the Russell 2000, IWM, which closed at 71.49, are in a pennant pattern; they are likely to fall from theirs and gold is likely to head higher.

Gold is not riding oil’s coat tail any more! Gold relative to oil, GLD:USO, is rising, documenting an investment demand for gold.

More analysis is available on the linked webpage.

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