1.26.12 GOLD PX & PXP

I hope you read yesterday’s post how TEL will possibly drag down the PSEi/index.

PX defied the gravity as most of the index stocks are heading southward. Technically, PX broke the SMA 100 with a massive volume and forms a nice continuation pattern. Let’s see if it can break 24 tomorrow. Is it the effect of rise of the Gold prices?


Yesterday, Gold made a breakout from its downtrend line with a long white/green candle and supported by huge volume. RSI is still below the overbought level and MACD is just crossing the zero line which indicates a bullish scenario on gold.



PXP – forming a bullish pennant

Deutsche is the top buyer for today and he’s the one who ate all the ask orders at the close it to 10. Nice job!

I bet you would not ignore the volume 😉


Bargain hunters, be ready for tomorrow.



Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s