Yesterday an uptrend was identified in GOLD and so far it is up 16$ this morning. The support area on GOLD was identified over 2 weeks ago and was not ephermeral or imagined. The TRENDBODYCLOUD consistently reduced in size as the support was confirmed. The only issue was the “COUNTERTREND” read by the “BOARD” is still in effect and has to be taken out today or else the credibility of the uptrend read will come into question.
As of this posting, the EURO, AUSSIE, and BRITISH POUND have entered “COUNTERTREND” territory, which by the way, lends credence to the identified support area. These support areas will remain in effect until the TREND LOW is taken out. The size of the TRENDBODYCLOUD on each of these is somewhat disconcerting though.
And, of course, it there is a support area in the EURO, there is a support area in the DOW and BANK OF AMERICA.
