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8th november Gold Trend Analysis

The News is growing as another “panic” cycle is under way. The talk is escalating to the talk now of Nations leaving the Euro —————- Italy now ready to sell off Assets, raise the retirement age, and keep in mind —-the BOYZ want one thing —- ITALY’s GOLD.

On top of that —collateral margin might be raised by another 10% the Clearnet margin requirements have gone from 6.64 % to 11% in the ten year. Last quote on the 10 year is 7.25% —above the “danger” zone — and all of this as the Prime Minister resigns. Is there going to be a new election ?——-that would take a few months —-and the BUDGET IS DUE AT THE END OF THE WEEK.

We will again go on record and say —as we have — the only fear gold has —–is a liquidity squeeze. Prices are now reaching the 1770-1777 suppport we discussed and Silver is now at the 34 dollar area.

The stock market is down 350-400 points. Closes below 1770 in gold would add to the scenario we’ve been laying out of a peak in metals for Novemer and pullback to month end.

Going to the Chart

The chart shows the “window” where the market is most likely to peak in November using the short term cycles. Inside this window, we seem to be forming a “mirror image” —-where a monthly peak has a potential trajectory pointing to the 1735-1755 area —– we’ve been using 1770-1777 as today’s low end to watch –and as you can see the potential to move down and for the monthly peak to be in is gaining momentum –and credibility. The “window” for a peak began Monday night at 10pm —- and more and more it is looking like it is in effect. Also discussed earlier in the week on the website was the Average peak price for November this year was going to be between Nov 2nd thru Nov 9th —and that is a cycle of higher degree. Finally — on the chart — for those who receive this daily report —and do not have access to the website — I’ve listed on the chart the ENTRY and EXIT of our last trade and ask you consider trying out the website —- for 30 cents a day. The entry and exit speak for themselves.

In summary look for resistance to appear in the 1780-1790 on bounces if your looking to short —- pivot will be 1770 area —– and target is now 1735-1755 area for starters with the potential for more.

FRANCAIS ESPANOL ITALIANO CHINESE

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Thoughts
"For a mountaineer, the important things are the effort, the posture and the muscles. The rope that holds him serves no purpose when everything works but it gives him a sense of security. In the same way, all gold does is ensure confidence; it's a safe haven."