Gold chart

16 hours gold chart. Gold rising probably because Korea.
Note some analysts thinks there is H&S forming and we are at second shoulder. We will know that very soon. Hopefully price will rise more that 1,386 USD which will invalide the formation.

Meanwhile EURo was smashed to 1.33 USD - probably because Island.

Update: Interesting action in silver - go slightly down. This means Gold went up because of Korea.

Off-topic: MariaDB - drop in replacement of MySQL - presentation posted

MariaDB presentation is uploaded here:

http://nmmm.nu/mariadb.htm

Unemployment problem?

Gold and silver charts

I was unabled to finish this post yesterday, but I will give update later today

---

Gold 1d

Gold 16h

Same as 1

Gold chart

Gold may have some more downtime, but looks like it already bounced from the support - blue line.
Note the resistance on top - pink line - it is not parallel to the support.

Off-topic: MariaDB - drop in replacement of MySQL

MariaDB - drop in replacement of MySQL
I will speak at OpenFest conferention on 20.Nov.2010 15:00 , Sofia, Interpred, zala Plovdiv.
Map and additional info here:
http://openfest.org/archive/openfest-2010/program/

Dolores video

Charts

Reprinted: Nixon closes the gold window

We posted this almost one year ago:

---

---

Historical moment: Nixon closes the gold window,
and with other words declares bankcrupsy of USA. On top he impose 10% tax on foreign imported goods.

1400 Gold

Gold just hits $ 1,400.00 mark.
Dow is 11,403.85
Dow/Gold ratio - 8.14 (March was 6.90)

1h EUR Chart

Lots of trend lines, pink lines are interesting, but we need to wait and see.

Charts

EUR/USD 4h

EUR looks like topped already and if brown/pink support fail will go to the formal resistance @ ~1.39.90 (blue).

---

Silver 12h

Interesting chart in silver. We have perfect channel on 12h chart. Price will top here and will go to support @ 24 area. 

---

Gold 12h

...and...

Gold 4h

Gold is currently at the support in 1,384/6 area. We could see top here (and because of silver chart I think we will see the top). Then support will be @ 1,365 area (brown) and 1,338 area (blue).

Updated charts

Thank you Bernanke,

---

Gold 8h

hopefully, we now, will see triangle test - 1365 area.

---

...and now - the big picture - Gold 1 week

target is 1480. But we could see correction before this.

---

Update:

Silver 8h:

Probably now silver will correct.

Jesse's Café Américain: Sprott Adds 6.5 Million Ounces of Silver to Its Tr...

Jesse's Café Américain: Sprott Adds 6.5 Million Ounces of Silver to Its Tr...: "It is my understanding that Sprott 'books' the silver when it makes the deal to acquire it, but the actual silver will not be obtained and..."

EUR and Gold charts

Those charts are from ~4-5h ago:

---

EUR/USD 1h

Here we can see that the triangle is broken, and new channel (in pink) is formed.

---

Gold 12h

Triangle is not broken here, but meanwhile prices hits 1,380, so triangle is very well broken. Now the channel in blue is in tact. Actully, the blue channel was broken too, but just a little bit. We need to wait and see. will post updates very soon. 

---

Gold 4h

Same as 12h chart, but more clear

Bernanke is Mugabe (readings)

Gold Daily Chart
http://jessescrossroadscafe.blogspot.com/2010/11/gold-daily-chart_03.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+JessesCafeAmericain+%28Jesse%27s+Caf%C3%A9+Am%C3%A9ricain%29&utm_content=Google+Reader

What the Fed did and why: supporting the recovery and sustaining price stability
By Ben S. Bernanke
Thursday, November 4, 2010
http://www.washingtonpost.com/wp-dyn/content/article/2010/11/03/AR2010110307372.html

The Real QE Numbers
By: Jim Sinclair
http://jsmineset.com/2010/11/03/the-real-qe-numbers-2/
The real number is not $600 billion in QE but $900 billion when you add present in place programs.

Jim Sinclair - Gold Bottomed, Dollar Index Headed to 56
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2010/11/3_Jim_Sinclair_-_Gold_Bottomed%2C_Dollar_Index_Headed_to_56.html
(text)

Comments on FOMC statement
by CalculatedRisk
http://feedproxy.google.com/~r/CalculatedRisk/~3/0w82raRjKYM/comments-on-fomc-statement.html

Silver ticks above $25 on QEII but should sell off to $20
by Peter Cooper
http://www.arabianmoney.net/gold-silver/2010/11/04/silver-ticks-above-25-on-qeii-but-should-sell-off-to-20/

Axel Merk on Tech Ticker
Bernanke Christens QE2: Fed "On a Very Dangerous Path," Axel Merk Says
Part 1:
http://finance.yahoo.com/tech-ticker/qe2-is-here-what-now-535568.html
Part 2:
http://finance.yahoo.com/tech-ticker/bernanke-christens-qe2-fed-on-a-very-dangerous-path-axel-merk-says-yftt_535567.html
video from yesterday

We’re Saved – The Banks Find Buyer for Garbage MBS Paper!
http://www.financialsense.com/node/2922?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+fso+%28Financial+Sense%29&utm_content=Google+Reader&utm_term=FSO

Interesting:

Lithium Drive: Chevrolet Volt 2011 GM
http://sufiy.blogspot.com/2010/11/lithium-drive-shenzhens-new-electric.html
video

Axel Merk on Tech Ticker

Bernanke Christens QE2: Fed "On a Very Dangerous Path," Axel Merk Says

• http://finance.yahoo.com/tech-ticker/qe2-is-here-what-now-535568.html?tickers=tlt,tbt,^tnx,tip,^dji,^gspc,spy
• http://finance.yahoo.com/tech-ticker/bernanke-christens-qe2-fed-on-a-very-dangerous-path-axel-merk-says-yftt_535567.html

EUR/USD 4h

Very important development in EUR/USD. The resistance was broken as if it was not there. This means that the channel in brown is not that important as we thought. Expectations could be now - price to fall to bottom of the pink channel, and go once again up.

One reminder here - FED / FOMS meeting is tomorrow and we may expect lots of volatility.

Charts

Gold 12h

There is no new developments here

EUR/USD 4h

EUR unable to fall to 1.3820/30 area. Looks like the small blue channel is acting at the moment.

Charts

Gold 12h

Gold bounced from the "double" resistance lines. Hopefully it will decline some more, to the support where we would buy it again.

Silver

No chart for silver, but silver hit new high (from 24.89 to 25.03)

EUR/USD 8h

EUR/USD bounced from resistance. We will see if this is a triangle or not.