12.15.11 AT

 

On the previous post, I just showed the breakdown of GOLD prices from its 1yr uptrend line and symmetrical triangle. And this is the effect on mining stocks:

Profit taking on BEL-LR  and Lopez stocks.

SMDC CEB MEG still on losing streak.

 

Review of Speculation on DMC 

MACD buy signal is gone. The consolidation continues.

Breakout may not happen this week. However, keep DMC in your radar. Breakout may happen in 1-2 weeks.

 

Review on LC chart

3 Days ago,I have presented 2 scenarios in LC. Looks like bearish scenario won.

-MACD sell signal

-Bearish Divergence

-Heavy selling(check volume)

-RSI drops below 60

+will SMA20 serve as a support?

 

 

AT Chart – daily

3 thoughts on “12.15.11 AT

  1. hi sir!
    i like the snow effect on your blog🙂
    i know its out of topic, i would like to ask you about bpi. foreigners are buying but its still red.should i sell

  2. Hi Milly, Net Foreign Buying/Selling(NFB/NFS) is just one of the indicators we need to use on our analysis. I think BPI is preparing to break 56 to go up to 58.5 then 60. Malakas pa BPI, though di ganun kabilis lumipad yan.

    Hi Det7, some technical indicators like MACD, price pattern and volume point downward.
    However, we still have support at SMA20 and 38.2 fibo.
    The price action/doji candlestick today means indecision.

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