GOLD

Gold last made a high in 2003! $252.60

2 more subsequent moves brought us to 2 lower highs of $243.39 and $217.63 on waning momentum as shown by 3 lower peaks in RSI and MACD. Is this the chart action of a bull?

Same time we see gold bugs jumping from buildings to buy the metal. Should this occur when prices are falling?

Uptrend line from the 2000/2001 lows has been broken.

20 WK has crossed down the 50 WK, but is not decidedly declining. When it does, it will be more bearish towards gold.

But, there appears to be a double bottom at $168, should that go the I's have it. IMHO

Bullish sentiment needs to dissapear for th enext leg up to continue, remember, the last high was in 2003

Duratek