![\"\"](\"http:\/\/profitimes.com\/wp-content\/uploads\/2011\/08\/Gold3.png\" "\\"Gold\\"")
<\/a>\nChart courtesy stockcharts.com<\/em><\/p>\n
If Price would hold around current levels (AT CLOSE), we might see the uptrend resume pretty soon, and then this move down was probably a move to shake out the weak hands, as sentiment was too bullish a couple of days ago, as can be seen in the following chart (courtesy sentimentrader.com):<\/p>\n
After two days of panic selling, we can expect sentiment to be headed in the other direction now.<\/p>\n The fact that bothers me, is the lack of participation of the mining stocks in the recent rally. One can argue that Gold mining stocks are severely undervalued (I agree, based on lower oil prices, and record high gold prices), but technical indicators don\u2019t look all that positive\u2026<\/p>\n The Negative Divergence between the price of the HUI index and the RSI is also confirmed by a lower top for the MACD. ***** You can now try out our services during 5 days for only $5<\/a>. That is only $1 per day!<\/strong>\u00a0For more information, please visit the following Link:\u00a0$5 Trial<\/a>\u00a0*****<\/strong><\/p>\n Have a Profitable day,<\/p>\n<\/a><\/p>\n
\nWe have been saying this in several articles on our website,\u00a0i.e:
\n* Back to the Future:\u00a0Gold, JPY, DAX, Paulson, Crash?!?<\/a>
\n* HUI:GOLD vs Bank Of America<\/a><\/p>\n
\nThe HUI index seems to be forming a Head & Shoulders pattern.
\nThe last two times price pierced the upper bollinger band, it failed to hold these levels, and that meant the start of a severe correction.
\nWill this time be any different?<\/p>\n<\/a>
\nChart courtesy stockcharts.com<\/em><\/p>\n