RE: OverboughtI was looking at the chart trend and we should have about 2 to 4 days before levelling and next spike, unless sideways action maintains .93 - .99 then we go one week until significant pop (14 th or 15th). Gold and silver have to settle at new levels which are 1350 - 1400 for gold and 28.00 - 31.00 for silver (dependant on shorts reclaim). US does not want another bank collapse so protectivenism is in force getting them to cover a percentage whick could pop us to 32.00. I have to think we will plateau at this level for a week to two weeks with pullbacks and upcycles. Next news should break us to 1.25 level and then manipulation for two to three weeks and then up to 2.00 plus. So 2011 looks good. i am extended to end year for taxes but will have this as major play for new year. ----------Original Message Posted 12/7/2010 10:40:05 AM---------- KTN was getting into overbought territory (RSI (14): 75.510), hence the minor correction.
Other than that, the technicals are still looking good:
https://www.barchart.com/opinions//KTN.VN
Guy