Gold above 1200$ an ounce in 2009?

The URL is http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID530404.

I don't see much bearish here. He's ignoring the larger timeframe downtrend. There is also massive negative divergence with the MACD.

 

yep, it's gotta clear $930 and hold it on a weekly close.

i still think the Euro is in a death spiral which is dawning on the Joe12Packs in pinko Europe.

maybe they are the ones driving gold to records in various currencies

 

it a relativistic world, you have to net out, despite nominal prints that tend to mislead

 

rats.. here's the chart

 

on a short term basis all this speculation is meaningless

perhaps gold does have a use as part of a portfolio along with silver long term

short term ... the money flows in and out of it like everything else

 

this chart looks pretty good for the bulls if we don't get some failure next week

 

Sure it looks good for the bulls considering you ignored and left out the March 2008 peak which is where a true trendline should begin.
For a short term trade, yes you are right. But for now the bears still own the longer term chart.

 

It feels good when you are right, but damn when you are wrong and you tell the whole world about....idiots

 

There should be an important top in Gold around here. And Silver looks like it will soon head south again.

 

Care to explain why you believe this?