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Many Gold stocks this morning have formed a naked bar which is a reversal signal.
AEM is down $ 3 + dollars from its high. Pattern completion of the breakout was to $60.00..it just fell a tad short.
ABX is down $ 2.50 from its intra day high.
And as Matt mentioned GDX hit 200 day MA.
Going long here looks really risky.
Agree, starting to look like a potential topping day in the miners and gold.
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Gold Stocks
Posted by frank on 26th of Jan 2009 at 11:58 am
Many Gold stocks this morning have formed a naked bar which is a reversal signal.
AEM is down $ 3 + dollars from its high. Pattern completion of the breakout was to $60.00..it just fell a tad short.
ABX is down $ 2.50 from its intra day high.
And as Matt mentioned GDX hit 200 day MA.
Going long here looks really risky.
Agree, starting to look like
Posted by homer on 26th of Jan 2009 at 12:06 pm
Agree, starting to look like a potential topping day in the miners and gold.