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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: loantech who wrote (26530)	1/7/2004 3:20:22 PM
From: Andrew	Respond to of 39344

chart.bigcharts.com Looking at that chart I see a falling wedge over the last 2 days. All the gold indexes and most of the producers have a very similar chart. Short term I see the downtrend line breaking and a possible retest of the highs. Clearing those recent highs would be a good thing <G> Beyond that its tough to call right now, I still think we are working through the correction from early December. Some of the charts I follow are looking a bit messy, in particular Goldcorp. Out of the Producers my favorite right now is Agnico. It got so beat up a few months back that it should go up even if gold drops somewhat. The big factor right now seems to be the USD/Euro. There are rumblings that ECB might ease to weaken the Euro. This has caused the USD to firm a bit. Somehow I really doubt this will happen considering that BOE is likely to raise rates again. These are the kind of stupid rumours that get thrown around to move the markets. If it doesn't happen Euro and gold will surge. If it does the result wont be good for gold bulls in the short term. PS I was thinking Cashew Nuts since I am partial to them <GGGGGG>