GOLD-XAU Message Board - Msg: 15592958

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Gold/Mining/Energy : GOLD-XAU

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To: IngotWeTrust who started this subject	3/31/2001 1:27:16 PM
From: GVC	of 1756

From elliot wave website: " The [XAU] is still in Minor wave 5 down from its high of 57.42 on March 9. On Friday, it fell to a low of 46.16 which is slightly above the wave B low, but then rallied to close at 47.57. The drop appears to have been a five wave affair, however, so the rally is probably only a brief respite. Wave 5 down still has a ways to go. It should take the index below its October 25 low of 41.61. If anything the decline from March 9 confirms that the XAU is back in its long-term bear market. As long as 57.42 remains intact the XAU will be on track for another leg down, one that may well complete its long-term bear market. "

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