Robert, I don't quite see how that chart demonstrates a long term upward trend.
> If you have a look at the 6-year chart at www.u2networks.com/markets/ > [scroll down after it loads] you'll notice that it could drop to as low as > $326 per ounce and still be in a long-term upward trend. In order for prices to reach the $326 level, they would have to break a few supports, including the 2 years old upward channel. Also, $ 326 would be about Euro 296, which is pretty unlikely too, as you could appreciate here : http://www.anygoldnow.com/TechAnalysis.html#medium > As to the "I told you so" bragging rights, you may or may not recall my > post four weeks ago when I mentioned that gold was rising too fast and > urgently needs a correction to stay within traditional trading ranges. Good call. However, that was pretty obvious. > At > the same time I also mentioned that the longer it took for the correction > to come and the steeper the price rise befor it, the longer a sideways > trend would take. Not necessarily > This is pretty normal, beacuse once a high-flying > upwards trend is stuck in an interim downward trading channel most > professionals and virtually ALL trading programs take profits well before > the last short-term high is reached again. > So, yes, "I told you so" *smile* My point is not the "I told you so". It is about trying to understand what's going on with Gold prices, and - if possible - help people avoid taking long positions too early. I suspect there are more and more new Gold investors around. The worst thing that could happen to them would be to get burned (short term) for having taken positions at the wrong time. Regards, Patrick, http://AnyGoldNow.com Any Gold, Any time, Anywhere > Cheers, > R.S.Z. > www.cyberica.net > www.cyfrocash.com --- You are currently subscribed to e-gold-list as: [EMAIL PROTECTED] To unsubscribe send a blank email to [EMAIL PROTECTED] Use e-gold's Secure Randomized Keyboard (SRK) when accessing your e-gold account(s) via the web and shopping cart interfaces to help thwart keystroke loggers and common viruses.
