Friday, July 3, 2009

Gold ETF (GLD) versus the US Dollar chart analysis

This is a weekly chart of the Gold ETF (GLD) versus the $USD Dollar ;
1) In late 86, we noticed a lower highs (Dollar) versus a higher lows (GLD)
2) Peak in Gold (early 08) we did see the Dollar for a bottom with a higher low pattern and a clear break out in Aug 08
3) The divergence in 09 started in April
4) We are now facing a lower highs pattern (Gold) versus a possible $USD Dollar higher lows ?
Gut feeling ; a break below 90 for GLD should send the Dollar above the 81 levels.
These next 2 weeks ; we should be set ......... expecting some wild moves .....
Watch the news ....... some high impact news should trigger some major break out SOON.

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