Gold and Silver Miners and the U.S Markets. Message Board

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Gold/Mining/Energy : Gold and Silver Miners and the U.S Markets.

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To: The1Stockman who wrote (1707)	4/4/2014 1:04:32 PM
From: Robov	Read Replies (1) of 1954

Is Gold doing a head-fake, or are we seeing a reversal? I have been stating that gold was close to or due for a reversal if even just intermediate reversal. $1310, $1330, and $1350 will be the levels we need to work back through on the way back up again and of course $1400. I could see gold taking two or three stabs at $1400 before punching through if indeed the trend continues higher, which, has still yet to be established. We need to back and above the 50 DMA having cleared the 200 so far today. That would still make the Golden Cross pattern playable and may create some nervousness among the fresh shorts. The $1280 level was a 50% Fibonacci retracement level from the most recent move bottom to top and it held which is bullish. Stochastics has crossed up and the MACD is turning back up. A cross of the MACD and an move back above centre would be further bullish and create a buy signal and would a move and close back above the 50. That 2.35 level that I waited weeks for just may have been the line in the sand as both Jammes and Wolf indicated they thought it was. Time will tell.

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