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.

 

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