Taken from this weeks Technical Watch "Weekly Breadth Data" review:
"Although the XAU advance/decline line was able to snapback to test its declining tops line this past week, the Precious Metals advance/decline line continues to look very weak here suggesting that we might be on the cusp of another swoon to the downside for the precious metals complex as soon as early next week. It will be important for the gold bulls to start to build divergence on any weakness we may see near term or the next possible time period for a potential tradable bottom may not come until August."
Fib
PM and XAU Breadth Status
Started by
fib_1618
, May 05 2013 12:13 PM
2 replies to this topic
#1
fib_1618
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Posted 05 May 2013 - 12:13 PM
Better to ignore me than abhor me.
“Wise men don't need advice. Fools won't take it” - Benjamin Franklin
"Beware of false knowledge; it is more dangerous than ignorance" - George Bernard Shaw
Demagogue: A leader who makes use of popular prejudices, false claims and promises in order to gain power.
#2
CLK
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Posted 08 May 2013 - 07:26 PM
The resiliency in Gold this week is perplexing, I need it to break out of this 3 week trading range one way or the other, and soon.
#3
fib_1618
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Posted 18 May 2013 - 07:57 AM
...suggesting that we might be on the cusp of another swoon to the downside for the precious metals complex as soon as early next week.
Better to ignore me than abhor me.
“Wise men don't need advice. Fools won't take it” - Benjamin Franklin
"Beware of false knowledge; it is more dangerous than ignorance" - George Bernard Shaw
Demagogue: A leader who makes use of popular prejudices, false claims and promises in order to gain power.
