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Agnico Eagle Mines Limited Message Board

  • keybotthequant keybotthequant Dec 1, 2011 4:34 PM Flag

    AEM Daily Chart Positive Divergence

    AEM has headaches with a gold mine in Canada lately but out of all the gold miner charts that Keystone reviewed, he only likes AEM and GSS; both have been beaten down over the last year. Price dropped into the falling green wedge with oversold conditions and positive divergence so it was placed on the launch pad as November began and catapulted skyward as would be expected. During November, price drifted lower falling into the blue wedge. Note the oversold conditions and positive divergence that bounced price once again.

    Price is currently battling with the 20 MA and should take out this resistance to the upside indicating further bullishness. The RSI just placed a higher high which is a long and strong bullish profile; watch to see if the RSI 50% level gives way to signal further strength as well. The weekly chart is positively diverged indicating bullishness also. The worst is over for AEM, it is basing now and higher prices are expected for the weeks and months to come.

    For AEM chart use search box above for keystone speculator.

54.05-0.09(-0.17%)Sep 27 4:02 PMEDT