tag:blogger.com,1999:blog-1708908742323002823.post7285125424337947853..comments2024-02-10T02:18:27.240-08:00Comments on Trader Dan's Market Views: Gold clears $1600 in convincing fashionTrader Danhttp://www.blogger.com/profile/05484363461047659198noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-1708908742323002823.post-87282872960640040382011-07-18T22:50:56.518-07:002011-07-18T22:50:56.518-07:00On a more fundamental point of view, I think that ...On a more fundamental point of view, I think that the powerful ones of this planet have a real interest to see gold rising about 20-25% a year, i.e see the currencies drop 20% a year. It is enough to reduce the weigh of their debt over a few years. Enough to make the middle class and the ones who saved some "money" to pay the debt for them. And just not enough to create a panic which would generate a rush to gold getting out of control and a crach of the dollar.<br />They play a dangerous game, more and more borderline.<br />But as most of population still is anaware of all this, and doesn't own gold, I think it's their way of thinking. Keep your "cash", gentle sheep, and get ready to loose it all, not in one day, but over a few years...Henrihttps://www.blogger.com/profile/05972520061783495875noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-23657472065134704092011-07-18T22:38:21.656-07:002011-07-18T22:38:21.656-07:00Hi Dan,
I wish we could post some small graphs wh...Hi Dan,<br /><br />I wish we could post some small graphs while commenting your great updates :)<br />On a monthly basis, gold is within a tunnel I like, with a resistance around 1640, meeting also its Bollinger. This tunnel is parallel to the mm20, which indicates a trend. Anyway, "technically", I expect a pause at around 1630-1650 level and, as a long, make some little profit taking from there if we reach it.<br />Have a nice day and thanks for your updatesHenrihttps://www.blogger.com/profile/05972520061783495875noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-73570251597019005062011-07-18T16:24:51.309-07:002011-07-18T16:24:51.309-07:00Gold didn't seem like a currency today - it wa...Gold didn't seem like a currency today - it was in its own world. All reliable correlations (CHF, HG, CI) flipped and gold pushed on to 12.1% above its 200day SMA with no signs of stalling. Usually a double digit premium to its 200day leads to a pause. Maybe it will come tomorrow, but I wonder if this going to be like silver in April.Spicy Guacamolehttps://www.blogger.com/profile/01838769139269608716noreply@blogger.com