Thursday, August 04, 2005


I am switching my attention from August gold futures to the December contract. Here is an updated hourly chart of December gold. I have transferred the price boxes dircectly from the August contract without adjusting for the spread between the two contracts. I find this to be the best approach.

I think December gold will soon reach the 1/2 divsion point of its current box near 449. Meanwhile support is at the 1/2 point of the last box near 436.

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