Wednesday, August 24, 2011

A Quick Note

Most financial indexes and many commodities will await Bernanke's pronouncement at 10:00am on Friday. Christine Lagarde is scheduled to speak as well, but I'm not sure of the time.

On Gold, it appears a pull back is started. I'm looking at 1748- 1750 then 1680-1700 as potential support. Breaking 1680 may indicate a more severe pull back.

Intra-day Silver pulled back to the Jupiter line. See previous posts for a chart. It is a Doji but I think it has further to fall. If Silver broke through the Jupiter line the next Venus line is at approx. 34.00.

I'll post on the weekend with charts.

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