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Non-Tech : The Woodshed

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To: gold$10k who wrote (2760)	3/20/2004 5:15:12 PM
From: jimsioi	Read Replies (2) of 60907

VT, after five days up for GOLD.. I'll join you in the "some consolidation" camp... In the group of charts below we see HUI XAU and GOLD have jumped above 50 and 20 day moving averages with the 50 above the 20...Stronger stocks in the group are above their 20s which is above the 50... I'd suspect some firmness in the dollar early next week up to about 88.60 and correspondingly some weakness in the HUI, by way of example down again to 223-5...221 HUI and especially 218 are important to hold for this last week's reversal action to demonstrate the strength I'm assuming for the moment it has... Indexes and stocks..of varying strengths... stockcharts.com\|B\|B14 US Dollar - green and red DMI on top of each other, suggesting important action ahead... and also note that the Dollar is above both its 20 and 50 day average with 20 above 50...Key points are downtrend and 61.8 fib retrace of most recent down move at 88.65 and critical support at 87.60-36....I think we get bounce before taking out the 87.60 number....If 87.60 goes first then there likely won't be much waiting around for the miners to go higher. stockcharts.com[h,a]dbcayiay[db][pc50!c20!f][vc60][iut!Ll14!Lp14,3,3!Lg!Lb14!Lh14,3!Ll14!Ld20!Lya7,14,28]&pref=G HUI Point and Figure chart.....233.83 confirms reversal of this week while 218.10 generally would void it's validity, imho...223 I see as the optimum purchase target point - least risk with relatively high potential of being seen... stockcharts.com[PA][DA][F!3!1.0!]&pref=G&listNum=

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