Tuesday, April 16, 2013

ABX gold stock comments

Man ABX looks like Niagara Falls, well this slope can't last forever and will eventually get some kind of snap-back rally/bounce like a rubber band that is stretched too far, but for now jeez...

The 60 min chart doesn't have any divergence, however I can draw a nice downtrend line on the ABX/GLD ratio. As you can see trendline breaks of the ratio on both the daily and 60 min chart work quite well for catching nice moves.

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