U r most welcome.

Good for u, keep it up.

I look forward to your sharing of your analysis n chart posting to exchange pointers.

If it retrace n correct to 2522, it may form a bullish horizontal flag continuation pattern  as most of the emas are still trending up (from 30ema to 200ema, which is the long-term ema).

Jmo, dyodd n BOSAYOR.

My fibo is based on high on 10/10/2007 to low on 10/03/2009.

If it can't break above the double top, it may retrace to the next support at 2522 on 19/8/2009.

It is moving north.  This was confirmed yesterday by the MACD crossing up.  This is chart reading and mostly true.

hit the dble top come down..

tonite jobless claims report..

Hi RichTan, A newbie here and would like your expertise regarding your post on the your post below. 

{Aredi broke above the double top formation n above 2700, will probably head towards the fibo retracement level of 61.8% at around 2965, but of course not in one straight line, with corrections in between}

In double top formation, will the retracement level of 61.8% higher or lower than 2700.  I thought that retracement usually means it will go lower first before trending higher.  Maybe I did it the other way round?

I read from some TA books, including below analyst tat inverse H&S is valid more for in a downtrend reversal:

From:

http://www.thegoldandoilguy.com/articles/how-to-swing-day-trade-and-swing-trade-gld-spot-gold/

Why is gold not in a reverse H & S pattern? Because a reverse H & S pattern is just that, it means the price will reverse from the previous trend. A reverse H & S happens after a downtrend, which forms a bottom and the trend is not moving higher.

Gold has been moving higher, which you can see in 2007 and this large pattern is more like a Cup & Handle pattern – extremely bullish.

erictkw      ( Date: 10-Sep-2009 14:48) Posted: If STI close at above 6670, it will have broken thru a pennant and an inverted head & shoulder. Am I reading it correctly?