XAU & HUI 6/17 Update

mss

Interpretation? I am sure its easy for you but I am clueless

I'm thinking, a pull back in in order

Time and price have squared as far as the last swing up is concerned. To keep the symmetry, a pullback to 92 level in XAU can happen. However with Blair and Chirac feuding over EU and Euro etc., gold may move up next week. MM target for the move up from May 16 lows is at 96 towards end of June. Also the Median Line target. A Keep it Simple view.



Price is at monthly pivot level extreme, although the pivot span is small due to small range last month. Historically only during such setups, the monthly R3 is tagged. I have seen monthly pivot levels being good swing trading points.

Edited by geosing, 19 June 2005 - 08:19 AM.

Interpretation?

<{POST_SNAPBACK}>

There is no clear interpretation to be had, but they suggest that a pull back to the pivot line is very likely. As long as the BOP stays above the trend line odds favor a price increase. The other postive thing is the 8/34ema cross is to the up side. Other than that, the charts don't have much to show

Interpretation?

<{POST_SNAPBACK}>

There is no clear interpretation to be had, but they suggest that a pull back to the pivot line is very likely. As long as the BOP stays above the trend line odds favor a price increase. The other postive thing is the 8/34ema cross is to the up side. Other than that, the charts don't have much to show

<{POST_SNAPBACK}>

Thanks