Good Night, ... It was good to see Gold move above $1,225 today.
We talked about it here, ... Message 29306302 ... called for $1,225.00 along with an MUX break above $1.95, which we got on Tuesday.
Nevertheless, ... it looks like we could be on our way to and hopefully above Robs $1,240 then the $1,260?
We watch and and see!
Daily:
After hitting a high of $1,230.70, it managed to close above the 20-day EMA at $1,224.10, .... Nice move.
Lower indicators still have room to run, but the MACD is still stalling. Lets see what it does at $1,250, the 50-day EMA.
~~
Weekly:
Once again, ... MACD is weak. but we are on our way to a nice bullish hammer this week, its just not very convincing. Stochastic is turning up, that's a +, but no where near the 20-day.
Its best when the Stochastic turns up while the price is above the 20-day or even the 50-day.
~~
Monthly:
Still looking lower uh? ...MACD bars haven't shrunk yet, its lines are still looking down, ... Stochastic is near the bottom but is not looking up yet, ... W%R is perhaps ready to make a move??? ... its always your first indicator, the W%R is at its lowest point since 2004 and perhaps even prior.
Hey, ... at least the Miners are forming some Cushion, ... I'd hate to see Gold lose another couple of hundred points while the miners are still at or below 52-week lows, ... yes?no? ... where would MUX be, or end up, ... if it was still at $1.63 and Gold takes another 200-dollar hit? ...
TA says MUX would be around 0.90¢ to $100 from $1.63 if Gold dropped to lets say $1,000 or less. screencast.com
Just Venting.
 |
