Friday, March 11, 2011

Support tested Twice

Gold has now tested its support at $1407 for the second time, responding in an absolute bullish way.  So although I thought it would test it again because usually gold will test support three times before breaking back to resistance, the trend seems to be pointing at moving past the middle and up to resistance at $1440 now.  Once the price is back up there, there will have to be some news to bring it down, and I think the news will be bullish for gold, as the fiat system remains to pull economics into a shallow pool of water like an alligator tackling its prey.  The core problem of finance is that gold does not officially back the system, so banks cheat and trade paper as though it is worth something.  When the hot

No comments:

Post a Comment