Wednesday, December 26, 2007

Buckle Up!

Gold has broken higher out of the Pennant Formation discussed in my December 13th post: . It is difficult to say "this is it" at this time as the week between Christmas and New years is historically "thin" in the trading pits. But make no mistake, this is VERY GOOD to see. Perhaps now we can begin to put a little fear into our Nemesis at the COMEX in New York, and encourage a short squeeze to close out the year at a new monthly closing high!

Seasonally things look bright for both Gold and Silver going into January. Particularly Silver. I have posted two "seasonality charts" above. [I have misplaced the link to the essay I found these on.] Both metals look poised to head higher in the new year. And by the looks of things in the global banking system, there will be plenty of reasons to buy Gold, and few to sell.

Also above I have posted a daily chart of the Euro. Beautiful... The next leg down in the US Dollar may be fast approaching, if not already in motion.

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