Posted by dallassteve on 10th of Apr 2012 at 02:19 pm
Thanks for the chart, saturn6
I am looking at a weekly GDX chart, and a broadening wedge
formation. It broke through the bottom trend line at 48, and
this seems very significant on a weekly chart.
I think it portends more weakness in the future, but of course
it can bounce first.
(I'm not having any luck trying to post a chart from the eTrade
platform. I should read the BPT tutorial some time.)
GDX - Support still in play on the line chart...
Posted by saturn6 on 10th of Apr 2012 at 01:45 pm
GDX
Posted by dallassteve on 10th of Apr 2012 at 02:19 pm
Thanks for the chart, saturn6
I am looking at a weekly GDX chart, and a broadening wedge formation. It broke through the bottom trend line at 48, and this seems very significant on a weekly chart.
I think it portends more weakness in the future, but of course it can bounce first.
(I'm not having any luck trying to post a chart from the eTrade platform. I should read the BPT tutorial some time.)
Support can be pierced remember...
Posted by saturn6 on 10th of Apr 2012 at 02:23 pm
That is why I look at multiple styles of charts, as the line chart I posted shows a piercing of support. We now need to see a recovery.
This chart shows the support along with some interesting +ive divergences...