Gold weekly and P&F

Gold 1 week

Gold P&F

Gold and EUR charts

Gold 8h
Price rising inside the blue, but there is resistance @ ~1243 (brown). Yesterday huge drop was channel test, but also invalide the possibility of bearish wedge (not shown).

Gold 4h
Same story, but "blue" channel can be seen more clear.

Eurodollar is a mess right now. Brown lines form something like reverse triangle, but the break is much like a wedge (pink).

Interesting that Eurodollar chart has no resemblance of gold at all. We can strongly say now that gold act on his own, and we can not use any currency (nor EUR, nor CHF, nor AUD) as a proxy for gold.


RIP Matt Simmons

Via Jesse:

Energy expert Simmons dies in North Haven
By Tux Turkel
Kennebec Journal
Matthew Simmons, an international oil expert who most recently focused on developing renewable energy from the waters off Maine, died Sunday night of an apparent heart attack, his office is reporting. He was 67.

Simmons founded the Ocean Energy Institute in 2007, hosting a grand opening of its new office last month in Rockland. The goal of the think tank and venture capital fund was to attract investment in research to make Maine a global leader in offshore wind and other ocean energy sources.

According to police reports, Simmons suffered a heart attack while in a hot tub at his home on North Haven. An autopsy is planned for today in Augusta, according to the Knox County Sheriff's Office.

Simmons was a leading energy investment banker, a former energy adviser to President George W. Bush, and author. He wrote the 2005 book “Twilight in the Desert: The Coming Saudi Oil Shock and the World Economy,” which laid out an argument that the world was approaching peak oil production.