Stock chart patterns and technical analysis (TA) explained simply. Disclaimer: This blog and all its contents are for educational and entertainment purposes only. Do not trade or invest based on any information seen on this blog. Please read Terms of Service. The K E Stone blog sites (Keybot the Quant) are blacklisted by Google, so enjoy the ad-free experience, and only use the Donate button when supporting the sites.
Monday, May 2, 2011
Gold Weekly Chart Overbot Negative Divergence
Gold was topping and rolling over late 2010 into February 2011 but the Middle East turmoil hit and the precious metal never looked back. Despite this uber large move north, the indicators remain negatively diverged indicating that even with the Middle East premium built in now, price is too high. A pull back is in order now with sideways to sideways down moving forward. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your financial advisor before making any investment decision.
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