Weekly Short Term Top for Gold...Chart Attached

Gold not so dollar linked as before. I say we hit new highs in Jan.

 

That is true - I should have used a LOG chart to make this - I will run that and check inconsistencies

 

http://www.sierrachart.com/userimages/upload_2/1260056311_56_UploadImage.png

 

You think we break through 72 on the dxy?

That is bold - although you could be right

 

Well looks like we are back to 50 RSI on GLD.

Every other time in this rally this has been the rebound point - should be an interesting rest of the week, if it breaks 50 (RSI) I am guessing we see the 50 Day MA next late this week or next, and if I am as excellent as I believe I am (don't laugh ) we see the 200 ma within a few weeks

 

http://www.elitetrader.com/vb/showthread.php?s=&threadid=184878&perpage=6&pagenumber=2

 

I am sure there are other feelings as well on the subject, although I do not think this is "it" for gold. I think the trend is your friend in this instance and there may be a great buying opportunity at around 900 +/- on gold

We will see I guess

 

Gold hasn't been linked to the dollar since Nixon.

But, it is repriced, twice a day, in USD, GBP and EUR by the LBMA.

 

Algo_Design_Kid, it seems to me that your channel lines should be drawn parallel on the log chart. Otherwise, there's not much reason to use a log chart.

 

There is a certain amount that allows for error with the LR - you can set it up differently but for longer timeframes I find (not too much sample data mind you) that it works better when you allow for a greater error sample