Thursday, November 11, 2010

The PMs

 GLD 1 min. As you can see, last night's negative divergence worked out right off the gap up open in GLD. There have been a series of small positive and negative divergences that have basically preceded small intraday moves. This looks a little like a consolidation of some sort.

 GLD 5 min The 5 min chart shows the break down from $139, a small positive divergence, today's opening gap negative divergence and possibly an area protruding that could lead to a leading divergence, but it still has some work to do (in the white box).

 SLV 1 min  SLV showing the negative divergence this morning on the gap up and just some insignificant positive/negative divergences that have preceded price moves.

SLV 5 min The 5 min chart on SLV, again, much like yesterday is looking better then GLDs chart. This, when zoomed in shows confirmation except for the white box which was a positive divergence. This is a consolidation and indicators can get bogged down n consolidations so we need to see something a bit more definitive before making a call on this one, but it does look better then GLD.

No comments: