Wednesday, 9 May 2012

ASX 200 is testing the trend line drawn from the August 2011 low

The ASX 200 is testing the zone around the trend line drawn from the August 2011 low.


The long term trend is down. It's a bear market, said the old turkey.


Gold breaks below the trend line drawn from the 2008 low, but...

Gold has broken below the trend line drawn from the 2008 low.


It remains with the up trend channel that has contained price action for more than a decade.


Zooming in to the past year or so, we see that Gold is testing the lower line of the trend channel it has traded within since early March.