Wednesday, January 14, 2009

Gold Swing Chart



I've outlined the basic swings on the above gold chart and as you can see this market is making lower highs and lower lows which means we are in a downtrend. If we are to assume that this downtrend will continue, it appears to me that we will see a test of the low from last November. The stochastics have also rolled over and are on a sell signal.

1 comment:

Anonymous said...

nice chart .i think you hit it on the nail.

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