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Daily Digger - Monday April 11, '05


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Day 6 and IAG shows up for oscillators banging on the lows...

 

"Tech Talk continues to favour the Canadian gold sector. The sector was one of the strongest on the TSX once again. Technicals for the sector continue to improve. More Canadian gold stocks on the TSX are recording positive MACD cross overs from Dover Sole levels (e.g. IAMGold)."

 

Watch it down to the $.5.80 area..

 

http://dvtechtalk.com/April/April8.htm

 

also...

 

"Tech Talk continues to favour the Canadian gold sector. Eight of the 25 gold stocks in the TSX Composite Index recorded positive MACD crossovers from a short term Dover Sole level on Friday. They were Barrick Gold, Bema Gold, Kinross, Meridian, Pan Am Silver, Placer Dome and Western Silver. In addition, Gammon Lake, another TSX Index gold stock recorded an encouraging breakout to an eight month high on higher than average volume. Nesbitt Burns released a favourable report on the stock on Friday."

http://dvtechtalk.com/April/April11.htm

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We continue to believe, several more weeks are needed to establish a "good" bottom, which appears in synch with a resumption of the Dollars decline.

 

Our VDI remains bullish.

 

Last weeks minor retreat was on the slowest volume in 14 weeks.

 

Look for Fibonacci Cluster Support at 91.07 level to halt the decline. Not far away with Friday's close at 92.89.

http://www.feargreed.com

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We continue to believe, several more weeks are needed to establish a "good" bottom, which appears in synch with a resumption of the Dollars decline.

 

Our VDI remains bullish.

 

Last weeks minor retreat was on the slowest volume in 14 weeks.

 

Look for Fibonacci Cluster Support at 91.07 level to halt the decline. Not far away with Friday's close at 92.89.

http://www.feargreed.com

 

Hopefully the trade deficit numbers out tomorrow may be the catalyst for the dollar down / gold-gold stocks up scenario much needed at this juncture.

 

Attached chart shows the strong possibility.

Also notice that either gold is overbought here or that the gold stocks are Dover Sole - i opt for the latter - either way, we should find out very soon.

 

 

goober fully loaded and swingin fo the fence :unsure:

post-2021-1113251050_thumb.jpg

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