8:35AM PDST GOLD RETESTS NEAR THE BOTTOM AND HOLDS ON MODERATE VOLUME UP

Gold has formed another short term down flag within the morning's uptrend channel (bold white lines) gold is holding the bottom support so far on three successively higher bottoms... Dollar is slipping down a bit now at .7596 gold is rising well at this moment and taking out the previous top at 86210 as it has just broken up above the down flag just mentioned...good now for the small retracement...then up further Most all rallies are, and will be, sold immediately, but should keep trending higher as gold is forming an encouraging pattern higher which should tempt new buyers in and start scaring shorts into covering their positions and driving gold back up.