Friday, April 30, 2010

Gold Miners Started Strong - Finished Weak

Gold had a pretty good day. The Gold miners started strong, but faded at the end of the day. While GLD closed +0.95%, the $HUI closed +0.67%.

  • ABX did break out, but I am expecting a retest of the breakout and possibly a retest of the gap in the 41 region
  • A good entry position will be when the MACD reaches oversold conditions on the 60 min chart, which should coincide with a retest of the breakout

No comments:

Post a Comment