The Vomiting Camel and Gold

[Suradit69]

On CNBC one of the Fast Money analysts, Brian Kelly, demonstrated that the gold charts have produced the "vomiting camel" formation. See first chart.

Additionally, the 2nd chart shows the vomiting camel on a rhombus, from which the camel's vomit is projected to end up in the $700 to $800 range or the "splat zone."

A rather dramatic way of saying that he is predicting a lack of support for gold prices going forward.

Edited November 4, 2014 by Suradit69

[BBesoteric]

Well my post just got erased by hitting backspace with a word selected...

In brief does this post http://www.exposingtruth.com/china-looks-set-introduce-gold-backed-new-world-reserve-currency/ show signs that the Chinese could effect gold prices?

Quite interesting that they have been telling their citizens to invest in gold and then this news comes out!

[Chao Lao Beach]

I am not convinced till i see the "Stupid Buffalo", formation.

There are meant to be Billions of Dollars of Shorts around $800 still.

Not be supriosed if the big boys drive it down for a off load and grab.

Edited November 4, 2014 by Chao Lao Beach

[canuckoverseas]

Wait for the trapezoid.

[aarn]

How can I apply for a high-paying job with CNBC?

I have no financial knowledge, am colorblind, but always pass those 'what can you see in this inkblot' test. AA

[fatfather]

End of this month the Swiss will vote, whether their banks must cover their money by 20% of gold (currently it is only covered by 7%). If the Swiss vote for the 20% gold cover, than the Swiss banks have to buy a huge amount of gold, which will make the camel to rise its head....

Fatfather