"As a technician, I feel that there are few analysts that offer value for me, but you do. Your work on Gold ratios has helped my analysis greatly." --Jordan Roy-Byrne, CMT (The Daily Gold) 4.9.10

Sunday, July 19, 2009

Gold price micromanagement

I suppose I do not manage the price of nominal gold as much as some readers may like, but here in this Ino.com video, Adam does a great job of it. Really. I receive a commish from Ino on any sign ups, but that is not why I am posting this.

You see the inverted H&S out there along with Merv Burak and Gary Biiwii's negation of same. You see Gary's symmetrical triangle and/or ascending triangle which are bullish, but caution downside potential on the way to a very bullish outcome. One thing I will say is that the more times something pounds a resistance area, the more likely it is to give way. Adam shows the resistance line and as I said, does a good job of laying out parameters, especially on the weekly time frame, which happens to be the time frame I do not like the looks of.

Check it out. It's just a video. It won't bite. You don't have to buy or sign up for anything.