Yesterday and todays candle sticks on the daily chart
engulfing candle.. retrace greater than 50% .. but now rebounding
my guess is its not the top..but signifying the short term top is near, that the retraces greater than 50% signify overbought conditions
upper wicks showing selling pressure
lower wicks showing support from the underside but not solid follow through.
my guess is we are close to a short term top.. but not at it yet...
alternatively we hit it and the target of the inverse head and shoulders seems really obvious and mabye we are stopping short of that for a consolidation before blastinging through it to leave day traders for dust to the upside
Ann: Beacon Enters into Forward Gold Sales at $2,715 per Ounce, page-60
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