Similar price pattern occurred last year from 16 May 07 to 9 July 07 where it stayed in “Warning” phase for 35 trading days.
We are now in “Warning” mode for 25 trading days. A lot will depend on whether the index can hold above its 200 day moving average of 80.87. If you are thinking of buying into Gold, I suggest that you hold on to your cash and wait for the index to move back to “Accumulation” or “Bullish” mode.
No comments:
Post a Comment