The XAU's Intraday Candlestick Chart Points To A Sharp Decline On Monday
The XAU's intraday candlestick chart points to a sharp decline on Monday, see the one day chart at http://finance.yahoo.com/q/ta?s=%5Exau&t=1d&l=off&z=l&q=c&p=&a=m26-12-9%2Cp12%2Cfs%2Cw14&c, and, see the five day chart at http://finance.yahoo.com/q/ta?s=%5EXAU&t=5d&l=off&z=l&q=c&p=&a=m26-12-9,p12,fs,w14&c, and, note the two large bearish spikes that occurred early in Friday 7-18's session.
The modest relatively flat downtrend on Friday appears to be the flat part of a large downcycle, that'll probably enter the parabolic sharply declining segment on Monday, which jives with the latest analysis, see http://tradethecycles.blogspot.com/2008/07/savvy-non-contrarian-gold-commercial.html.
Note that the savvy US Dollar Commercial Traders traded aggressively net long in the 5 day period ending 7-15-08, see the second from the last data at http://www.cftc.gov/dea/options/deanybtsof.htm.
.......http://www.JoeFRocks.com/
NEM XAU HUI
The modest relatively flat downtrend on Friday appears to be the flat part of a large downcycle, that'll probably enter the parabolic sharply declining segment on Monday, which jives with the latest analysis, see http://tradethecycles.blogspot.com/2008/07/savvy-non-contrarian-gold-commercial.html.
Note that the savvy US Dollar Commercial Traders traded aggressively net long in the 5 day period ending 7-15-08, see the second from the last data at http://www.cftc.gov/dea/options/deanybtsof.htm.
.......http://www.JoeFRocks.com/
NEM XAU HUI
Labels: Gold, Gold Stocks, HUI, NEM, Silver, Silver Stocks, XAU
posted by Joe Ferrazzano at
2:09 PM
2 Comments:
The message boards "we can't lose with gold" sentiment is another major negative. Most people are still very bullish.
By
Joe Ferrazzano, at 1:04 PM
Also, there's obviously a lot of scamming BS going on on the message boards.
By
Joe Ferrazzano, at 2:35 PM
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