Krystal Ball - 10th March 2001
Dear Reader, Please read first the Disclaimer section at the end.
GOLD ALERT
Sometime back we became mildly bullish about Gold in the short term .There was a possibility of an upward thrust to complete an intermediate rally upto $320-330 levels.We stated that in an update with a one year chart analysis.Indeed we saw an upside. But that proved to be no more than a mild jerk.The subsequent low brought up a technical possibility of a decline also.
In our 1st March 2001 update we responded to investor queries on the outlook for the metal long-term,and intermediate.
Our strategy for the immediate future spoke of two alternatives.Going long above a weekly close of $ 265 and going short below a weekly close of $253.
Comex Gold closed the week ending 9th March 2001 at $270.80 much above our mark for installing long positions.The priceline is out of the triangle pattern.
Our strategy for now would be to instal LONG positions with STOP LOSS at $263 weekly close.An updated chart is attched below.
Gold Weekly 9th March 2001.
Palladium weekly 9th march 2001 close.
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