Blondie,
Wow, 15 minute charts. Let me see (I have to use telechart for this, since stockcharts (free version) won't give me access).
Yes, on a shorter timeframe you have a good testing of that timeframe's bottom and a breakout above it at about $14.34. Above I see 15 min resistance at 14.70 and 15.15.
On the daily chart it appears to be working in a horizontal channel between 14 and 15.50. Most of my indicators seem to be neutral here, so it could be a buy in the lower channel and a sell in the upper. Channels eventually give way to breakouts or breakdowns, of course.
I guess if forced I would say this is a sideways trend with a slight bullish bias. But AEM on the weekly is still bearish.
Unfortunately the gold sector is still in a bearish trend, since last December, on the daily and weekly charts. NEM, GLG, AU, GFI are all bearish; others in the sector are turning bullish, so I guess it's a battle for the hearts and souls of gold.
For me, I want to trade strong trends, and this sector doesn't yet offer me probabilities that I can work from.
Kb |
