Thursday, March 8, 2007

Building A Bottom

Internal indicators in both Gold and Silver are beginning to signal that "near-term" bottoms may be taking shape. A turn up in RSI from mid 30s and Bullish Crossover of Stochastics are the first signs that a bottom in the market is being built. We wait for a Bullish Crossover of MACD for confirmation and an internal Bullish Trifecta in both Gold and Silver.

Hank Paulson is a shill. He's really in China begging them for help in containing the fall in the US Dollar.

Today'sEU rate decision, and Friday's nonfarm payrolls, and the US Trade Balance will be key movers in the PMs to close the week. Bear in mind the Trade Balance numbers are for January, and may be helped by the recent low in oil prices that month.

Good Read:

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