Thursday, July 9, 2009

Gold -- 7 x 3 point and figure chart

Gold has been taking up a lot of space in the newsletter, so I thought I should put some of the less important charts on the blog.

each box on the chart below is 7 Dollars, so for a new column to form the price has to move up or down 21 Dollars. the bearish price objective targets the April lows now. that seems like a reasonable short-term target. good a place as any for the crash to take a coffee break, and for the bull bugs to cry Bottom! once again.