Sunday, December 28, 2008

USD and Gold Weekly Charts

I expect the dollar to lose more of its froth in the weeks ahead... Note the unprecedented rate of decline in the dollar's value and the price oscillator (PPO) plunge.

Gold on the other hand is looking much better. Note: 1) that it has finally pulled out of its oversold condition 2) the PPO is trending upwards and 3) price has once again crossed through its 40 week moving average - all very good signs.

Though the cartel will continue manipulating the market in the attempt to slow gold's advance, I believe we'll soon see a strong rush - pushing gold through its $936 resistance level anyway.


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