Showing posts with label Gold Chart Convergance. Show all posts
Showing posts with label Gold Chart Convergance. Show all posts

Wednesday, August 5, 2009

Gold Chart Convergance

After todays performance it seems as though the convergance trend I posted yesterday has a higher level of validity. If the chart continues along the trend we should see a bottow around the 935-940 level and from there we could see a breakout to the upside.
There is a chance obviously that the breakout could be to the downside but I think its unlikely. The converging boundary lines are leading higher and thats usually a good sign that the breakout will be a positive one.