Monday, May 07, 2007

XAU Chart

Given recent strength in gold prices the performance of the Philadelphia gold and silver stocks index is not that impressive. Other gold & silver mining indices haven't done much better.

The XAU: GOLD ratio continue to consolidate around recent lows.

Lets see what come next.


Chart annotated with short term Fibonacci levels and uptrend line ( short term support).

XAU Chart

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2 Comments:

Blogger troy said...

Im bullish , we should head higher.

Thursday, May 10, 2007 10:40:00 AM  
Blogger troy said...

wrong and out.

Thursday, May 10, 2007 2:38:00 PM  

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