Tuesday, September 13, 2005


Here is a highly compressed hourly chart showing pit and electronic trading in December gold for the past month or so.

The market has reacted to the 1/2 point of its current box. I think the upside potential from here is big (468 and higher) so I expect the market to hold 448 and head up to the 1/2 point of the next box near 461. If I am wrong then we will see a drop to the bottom of the current box first, near 443, but then the market will head up from there.

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