XAU getting ready to breakout?

Discussion in 'Commodity Futures' started by tradermaji, Feb 11, 2007.

  1. If your going to play Gold...

    You also gotta monitor Oil.

    Mark
     
    #11     Mar 10, 2007
  2. Agreed, looks like oil's going to the dance with gold...waiting to see what else drops faster than a prom dress and watching the entrance for Carrie.

    From the slope of the first correction it appears to be a 22% wave throughout (equities).

    I believe gold and oil will correct 3-6 months then continue their bull runs. This should confuse the Hell out of alot of speculators.

    Quad Witch will be telling for the first act.
     
    #12     Mar 10, 2007
  3. As I had thought, gold did a head fake trying to shake the weak longs out. I am still bullish and I think it is just the correction of the zigzag pattern evident in gold. However, there seems to be a bear flag forming too... so all bets are off now. I am still bullish but will change my stance if the bear flag plays out.
     
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    #13     Mar 20, 2007