Tuesday, January 26, 2010

Gold and Oil prediction revisited.....

Here is the link to my gold and oil charts from early December calling this short term rally in gold and oil: http://absolute-investments.blogspot.com/2009/12/short-term-oil-gold-rally.html

Here's the oil prediction...

Here's what happened... turning point i estimated around the white circle. It went slightly above bouncing off resistance from previous highs. I'm expecting weaker demand and oil to fall from here.
Here's what I predicted for gold..

Gold fell just short of my target but continued down sharply like i was expecting... I am still very bearish with gold in the short-intermediate time-frame

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