I'm seeing positive divergence in gold futures (60 min) via the
MACD. Also YG has come down to a downtrend line, which acted
as support. There is another trendline above that was broken,
maybe that will act as resistance. So in short, gold could
have a bounce here, however I doubt that it goes back to the
highs.
Posted by junkmaylbox on 26th of Feb 2009 at 07:41 pm
That means that the market should go lower. I've been watching
gold stocks today, and they anticipated a decline by going higher.
I took 1/3 of the profits on GDX and 1/2 on AUY. I will re-sell
them short again after their bounce.
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Gold Futures
Posted by matt on 26th of Feb 2009 at 06:41 pm
I'm seeing positive divergence in gold futures (60 min) via the MACD. Also YG has come down to a downtrend line, which acted as support. There is another trendline above that was broken, maybe that will act as resistance. So in short, gold could have a bounce here, however I doubt that it goes back to the highs.
Gold and gold stiocks
Posted by junkmaylbox on 26th of Feb 2009 at 07:41 pm
That means that the market should go lower. I've been watching gold stocks today, and they anticipated a decline by going higher. I took 1/3 of the profits on GDX and 1/2 on AUY. I will re-sell them short again after their bounce.