XAU - 90 minute
My ninety-minute charts are my segue between intra-day and swing trading. Above is a 90 minute chart of the Gold & Silver Index, XAU. As most everyone knows by now, gold stocks have been charging up the past few days, a clear Wave 3 thrust on shorter-term charts.
XAU - Weekly
The Weekly view looks pretty good for move up toward the 200 level. Once there, prices should encounter resistance at the old highs, between 200-210 from March and July of 2008. These levels can be seen as more significant on the Monthly chart below:
XAU - Monthly
Also noteworthy on the Monthly view is the False Bar Stochastic, which could be on the threshold of a long-term SELL SIGNAL right at those resistance levels in the weeks and months ahead. If prices instead bolt up through resistance toward 300 as the Monthly wave count suggests, Gold could be entering into a multi-year bull market. So 200-210 will carry a lot of weight going forward.
Here are some charts of individual gold stocks suggested in my June 3rd, "Perspective on Gold Stocks."