Daily Murmur 25/08/11

by Gary Glover

Gold has been running hot for quite some time.  I think this is one of the most crowded trades in the market so it is very vulnerable for a large correction in my opinion.  I think most of the commodities have started to roll over so Gold was destined to follow.  I believe this could be a terminal move and a larger deeper fall is likely, possibly similar to what happened to Silver recently.  I noticed the monthly could develop a massive shooting star pattern which is extremely bearish longer term and for the short term gann traders, the recent high was exactly 144 days from the previous high.



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Gary Glover is an Authorised Representative (Rep No. 259215) of Novus Capital Limited ("Novus"). Novus is a holder of Australian Financial Services Licence No 238 168. Novus, its directors, officers, associates and employees each declare that they, from time to time, may hold interests in financial products and/or earn brokerage, commission, fees or other benefits from financial products mentioned in this e-mail or attached documents. Unless specifically stated within this page or an attached document, any information communicated by this e-mail constitutes unsolicited general financial product advice which has been compiled without regard to any investor's individual objectives, financial situation or needs. It is not specific advice for any particular investor. Before making any decision about the information provided, you need to consider the appropriateness of this information having regard to your individual objectives, financial situation and needs and consult your adviser. Any indicative information and assumptions used here are summarised and also may change without notice to you, particularly if based on past performance or relate to a future matter.