8 replies to this topic

[Porter]

The Monthly trend for the XAU and the HUI has turned down. The Monthly trend for the Gold futures (GC04M) has not turned down yet, but the odds are 3:1 that it will turn down. Porter

[Mike]

While the monthly charts are turning down, the weeklly is very oversold and ripe for a substantial rebound. Be nimble...
http://stockcharts.c...29993838,Y].gif

[The_Gold_Miner]

I agree Mike, lots of bears yelling and screaming. The bulls are dropping off and the message boards are gloom and doom on the XAU... A contrarian would be looking for an entry in the near future.

[skott]

are you looking for xau 75 as the stopping point? I think things still look bearish but the next few days will tell the tale. scott

[Mike]

Trendline looks like a good target. Disturbing today is that individual stock volume is near normal. No washout yet.

[TomD]

Caution is required.


More gold charts on different time scales

[dougie]

thanks for the nice charts. wish there was some good news there but it is sparse. wish i was on the sidelines watching.

[skott]

dougie, I feel your pain. I exited my last gold trade a few weeks ago with nearly a 3% loss. I can't tell you how much I hate a 3% loss but I knew I was wrong and I had to exit. Taking that hated loss has saved me from having what would now be a 25% loss! we may get a bounce and it could be a good one but I will be looking for good shorting opportunities. ......on this last rise I had hoped we would reach 42 on nem so i could short it but we never even got close. scott

[dougie]

Tom D : nice charts, solid comments and noce political analysis! Thanks. now could you throw us gold bulls a bone!