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How technical analysis on the price of gold works

Gold TA works, it really does. It's just that it doesn't quite work the way most people think it does:
  • First you get "Gold has to hold the important U$1,200/oz level" from the technical analysts.
  • Then gold goes under U$1,200/oz, worrying the chartists.
  • Then gold goes under $1,198/oz. Ditto.
  • Then it spikes down a few dollars and that does it, they're shaken out of the metal by their chart readings and general neuroses.
  • And once that's all done gold moves back up and over U$1,200/oz so that we normal people who buy when herds sell benefit from the TA dumbasses.

Keep them charts coming, guys. Keep 'em coming.

PS: Jabba the Hutt? You bet.