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Message: Re: Gold Break to Be Violent
2
Oct 14, 2008 10:21AM

Oct 14, 2008 10:33AM

Oct 14, 2008 10:40AM

Just from reading a bit more on technical analysis of rectangle formations, the amount of the breakout will typically be the same as the amount of movement within the rectangle. This range would be applied to the breakout point.

In this case, we are watching for $930 closing, at which point the breakout would take us to $1030, coincidentally the previous all-time high. I'd expect a pullback into the $900's again before convincingly breaking the all-time highs and never looking back.

For fairness a breakout to the lowside would have us retest the $730 low. Fundamentally that should not happen but fundamentally I am also stinking rich.

Hysteria




Oct 14, 2008 11:09AM
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