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Charmin

Daily Digger - Tuesday April 5, '05

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I will stop counting when I get to 13....

 

Some pages to review....

 

Gold currently has excellent value relative to the price of crude oil.

http://dvtechtalk.com/April/April5.htm

 

Conversely, Gold remains in a trading range between $410 and $458 U.S. per ounce and is showing early signs of bottoming. The gold/oil ratio closed on Friday at 7.44, the lowest level in over four years.

http://dvtechtalk.com/April/April4.htm

 

The following chart is the weekly XGD.TO gold index and it is retesting the prior spring on lighter volume....

post-326-1112678215_thumb.jpg

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XAU:

 

Simplicity---

 

But I think wave 4 will be more complex.

post-1352-1112681542_thumb.jpg

post-1352-1112682028_thumb.jpg

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HUI:

 

I know a lot of you follow Trending 123.

 

I believe on the noon update yesterday, John posted an HUI chart and suggested that waves 2 and 4 should fit neatly in a channel.

 

That sure ain't Elliott.

 

Under the Rule of Alternation, waves 2 and 4 should have marked differences--as to price, range, pattern, and duration.

 

Frankly, if we don't break 91.78 on XAU today, I'd be looking for 95.50 or slightly more.

 

As far as HUI goes, it's pure speculation on my part, but I think we break its uptrend line and find a double bottom support above 190.45.

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DX could find resistance today with an upthrust and high last nigh

 

Euro should rally with dollar breaking

 

silver retesting last night and gold playing catchup

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just about everything I like turns to mush but I like the looks of the gold chart though it is a low volume stock

post-326-1112707802_thumb.jpg

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