Thursday, April 8, 2010

Gold Followed Through With Breakout

  • The continuation reverse H-S-H breakout
  • Broke through longer term down trend line as well
  • Take note of the bullish divergence in the MACD histogram - this is an excellent way to peer at the internal strength (or weakness)
  • The preliminary price target for the H-S-H breakout is around $120 - which  aligns with a retest of the previous high ... 

  • Volume was above average, i.e., above the 5 EMA
  • ADX line is below the +DI and -DI lines and turning up. Keep an eye on ADX slope and when it starts crossing the +DI and -DI lines.

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