Wednesday, August 24, 2011

Gold and Copper

I tried to pick a good Bernoulli Channel for gold, pretty tough.

I found 2, and then show them combined.   When I get a bounce on the B100, B133, B177 channel extensions, then place on support or resistance.   USD is sure taking it's time if it is going to run up, that would pressure gold down.

Who knows, maybe the Bernank will announce a stealth QE3, and everyone will celebrate the doom of the dollar by bidding up the indices. 

It is clear, the Bernank and powers that be do not want a strong dollar, they want to default on debt, and as cost to re-sell debt goes up, they will want to print (pay off the old debt directly with crisp $100 bills, lots of them) and default on the remainder by the act of printing. 

Gov also wants US to be able to sell to foreign markets and weaker dollar allows that.

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Insightful and Useful Comment!