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Gold/Mining/Energy : Gold & Gold Stock Analysis -- Ignore unavailable to you. Want to Upgrade?

To: IngotWeTrust who wrote (29323)2/22/2013 2:33:20 PM
From: TheSlowLane11 Recommendations  Respond to of 29622
 
I never presume to know for certain what will happen on any particular day but anybody can see how stretched things have gotten. HUI, XAU, GDX...whatever...gapping down day after day. When you get that kind of energy going in to a move, up or down, it cannot be sustained. Whether that means a dead cat bounce or a trend change depends on what happens next but the odds of everything continuing straight down are miniscule. Fading this spike down is Trading 101, imo.



To: IngotWeTrust who wrote (29323)2/25/2013 12:14:10 PM
From: Kirk ©9 Recommendations  Respond to of 29622
 
Gold / GLD bounced off support perfectly.

I have two more charts blowing this event up at Gold and GLD Bounce off Support
"Note how a bounce off the dashed red resistance-turned-support line in April 2009 in the $800s was very bullish. Four years later, Gold is making a similar test of resistance turned support."


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