Tuesday, November 9, 2010

Gold Tops

At the risk of offending the gold bugs:

click to enlarge
The 5=.618 of 1 thru 3 @ 1450. Note the negative divergance on the weekly RSI.


Agian note the negative RSI divergence. In this chart the (5) = (1).
Looks like 1386.5 is the next milestone.

I don't really have a count on the very long term chart but the downside risk here is considerable.

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