Log scale weekly candlestick chart shown below.Gold could go as low as 1200 without breaking below the lower trend channel line. The mid channel line indicates support around 1700, a similar level as support offered by an entirely different trend line illustrated on this morning's chart. I would be surprised if the bull market ends without a blow-off through the top channel line, above 2000.
Thursday, 22 September 2011
Daily candlestick chart shown below. The AUD/USD has broken the trend line formed from the March 2009 lows, and also the lower parallel line which had halted declines last month and in June 2010. The down trend channel suggests that the market should work its way toward an initial target in the mid 90s..
Daily candlestick chart shown below. In my view, trending up so long as it continues to close above 1700. Currently 1783. Has held up well relative to stocks and EUR/USD following the latest US Fed shenanigans.