2011 May
Monthly Archives: May 2011
Monday Kitcommentary – A Brush With Death
Monday's trading action in New York opened under continuing selling pressure for all of the metals in the complex.
Gold fell $13.40 per ounce to start at $1,552.30 on the bid-side. Friday's price action was labeled as a "throw-over" in Elliott Wave parlance and was not confirmed by the patterns in silver.
A solid close taking place beneath the $1,542.00 level could be thought to indicate that a significant top (based on wave patterns) might have been put into place in the yellow metal [...]