Wednesday, June 08, 2005

Why Gold Price Correction is Over

Dan Norcini says "I have received more than a few emails lately asking why I have been relatively quiet in regards to my writings. The short answer is that I, like many others in the Gold Community, have been patiently waiting for gold to give some sort of evidence that its corrective action was finished and that it was through going down."

Norcini says "In my opinion, the signals point to gold’s time being at hand once again. I have several reasons for stating so and will list them one by one and let the reader judge for his or herself. Please keep in mind that I am a trader and thus look for a preponderance of weight to favor a trade before committing 100% to it. The past week or so there have been indications that gold was base building and laying a floor for the next leg upward but it was a bit too premature for all but the most nimble traders to commit in a big way to this market as it does have a nasty habit of shaking would-be bulls and kicking them around a bit before settling down and behaving properly."

Read all of Dan Norcini comments and view his charts here.

1 comment:

Anonymous said...

I tried the link for Norcini but get an error message.... solutions?