Golds do or die move to trend

Long term weekly outlook for gold has it at critical point once more.    Having held above support many times this year makes it relatively strong despite the falls from on high

The trend to recover now is a channel that allowed for such a rise at the year start as it matches regular gains since 2009

Gulf Keystone makes new highs on track for takeover valuation

Action in GKP has as always been dramatic but the chart shows it is on a good long term setting for its gains.

Current volume shows a large amount of bidding focusing around 270p with action remaining positive after its decline from a short term high

Sterling breaks out of August negative trend

Ironically we got the QE and sterling rose. Strange thing that more money means a higher price but anyway the dollar is falling in general.

We have now in action the breakout scenario, its now not following the August decline. 

If it can hold above 1.55 well enough and not decline as was expected then a recovery in sterling worth becomes possible and a reversal of the loss in value since August, etc

Upside targets 1.563 1.59





[Cable surged three and a half cents in 24 hours, which is abnormal. Conversely that makes this pullback & negative monday healthy, but it has to be relatively positive on a week view still ]