2 replies to this topic

[Wallcrawler]

Looking at the 30min chart I will watching the GAP below as it acts like a vacuum sucking the price in. However, GAPS can act as support or resistance. From the looks of things this is just a brief pullback before get alittle more upside. My short term target now will be the 85-86 area. Notice the Parobolic SAR (thanx vitimmin)

30 min
[img]http://quote.prophet.net/JCPrintChart?href=http://ABUNDANCE.prophet.net/TemporaryFiles/JavaCharts/207.1116512252527.print.gif[/img]

A BIGGER picture

[img]http://quote.prophet.net/JCPrintChart?href=http://ENDURANCE.prophet.net/TemporaryFiles/JavaCharts/249.1116513053526.print.gif[/img]

[Wallcrawler]

CHART UPDATE

GAP filled!!!!

[img]http://quote.prophet.net/JCPrintChart?href=http://INTEGRITY.prophet.net/TemporaryFiles/JavaCharts/221.1116514924792.print.gif[/img]

[Wallcrawler]

Here's an update on the XAU

We finally got our GAP fill and the price action seems to hanging in that area. This AM we got another small GAP that needs filling. With the UP GAP the other day and the DOWN GAP this AM we have made a BEARISH ISLAND pattern. There are a couple of things that can take place here, we either drop from here (my target of 75) or rally to the 86-87 level where there is resistance. I say rally only because of the possible BULLISH consolidation that is currently going on. Right now this bottoming process that this index is going through could take another week, maybe two, however I believe this index is going be starting in rally mode in the not to distant future.

[img]http://quote.prophet.net/JCPrintChart?href=http://COURAGE.prophet.net/TemporaryFiles/JavaCharts/25.1116601663659.print.gif[/img]

I am watching Mewmont Mining (NEM) for possible stock option play. I have a target of 34 and this is where I will be looking for a trade. 34 would give us some very nice BULLISH DIVERGENCE on the daily chart.

Edited by Wallcrawler, 20 May 2005 - 10:08 AM.