 CHARTWORKS - FEBRUARY 27, 2006
Divergence in Gold vs XAU
Technical observations of RossClark@shaw.ca
Bob Hoye
Institutional Advisors
March 1, 2006
We need to watch gold and the
XAU closely over the next few days. A bearish divergence is developing
that could provide a further downside correction in gold in the
coming few weeks.
- The index of gold exploration
stocks ( www.goldcolony.com ) closed at 180 on Friday.
.
- The distinction is that this
is a record high, which could be attributed to generally improving
results from the field.
.
- The announced takeover of
Western Silver is a plus for the sector, but WTC is not in the
index.
Bob Hoye
Institutional Advisors
E-mail bobhoye@institutionaladvisors.com
Website: www.institutionaladvisors.com
CHARTWORKS - FEBRUARY 27, 2006
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