Take physic, pomp

How technical analysis on the price of gold works

Gold TA works, it really does. It’s just that it doesn’t quite work the way most people think it does:
  • First you get “Gold has to hold the important U$1,200/oz level” from the technical analysts.
  • Then gold goes under U$1,200/oz, worrying the chartists.
  • Then gold goes under $1,198/oz. Ditto.
  • Then it spikes down a few dollars and that does it, they’re shaken out of the metal by their chart readings and general neuroses.
  • And once that’s all done gold moves back up and over U$1,200/oz so that we normal people who buy when herds sell benefit from the TA dumbasses.

Keep them charts coming, guys. Keep ’em coming.

PS: Jabba the Hutt? You bet.

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