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Gold/Mining/Energy : Gold Price Monitor
GDXJ 96.90+0.9%Nov 18 4:00 PM EST

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To: sea_urchin who wrote (31049)4/2/1999 11:08:00 AM
From: Hawkmoon  Read Replies (2) of 116762
 
You almost had me fooled with that 5 minute chart on the XAU..... :0)

Check out the hourly and daily and you get a slightly different perspective.

The hourly indicates a strong possibility of a gap-down:

iqc.com

Note Bollinger Band "pinch" which often denotes a substantial move in one direction or another. It is turning negative and MACD is threatening to break below the mid-line.

Now take a gander at the 30 minute chart for confirmation of this trend:

iqc.com

Daily chart indicates a revisit of recent lows around 56 and the weekly indicates a revisit to previous lows reached last September:

iqc.com

Regards,

Ron
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