Gold and Silver Juniors, Mid-tiers and Producers Message Board

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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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From: SwampDogg	7/21/2006 5:59:30 PM
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Could the $XAU have closed at a more precarious spot? stockcharts.com Scary thing is that EW allows for a Wave 2 to go as low as the Wave 4 of one lower degree. With this obvious H&S on the weekly we may be looking at sub 80 on the $XAU if this does not turn early next week. NEM is the one to watch. This is either a large consolidation triangle that has a low of about 49 or we are about to get smacked. NEM has no business closing below 49 and if it does bulls had better take cover. At this point things are not looking very good. The only good news is that volume has been lower on each selloff. stockcharts.com

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