S&P/TSX Canadian Gold Index Analysis for 01.20.2008

S&P/TSX CANADIAN GOLD INDEX - $TTGD-TC

Monthly chart shows possible high made into 383.91 resistance. Currently the index is below the key LIS (line in the sand) and prior high of 369.50. There is regular divergence in the CCI momentum indicator. While there is a current new high in the index, there is no clear sell signal/pattern as of yet on this timeframe.

Weekly chart shows that last week, the bears quickly erased all the gains made from the week before. On a weekly basis, there is a close below the prior high of 347.66. The leg up was made with an abc 3 wave pattern into the 384.15 high.

Daily chart shows Friday's price action resulted in a doji. Look to next week's trading to see whether bulls or bears will win the short term battle.

GC #F Analysis for 12.02.2007

Monthly chart shows a shooting star/doji candle for the month of November. Time for consolidation/retracement? Upside momentum remains in place.

Weekly chart shows resistance to be right at the 1.618 fib level. This higher high was made as price moved out of consolidation range. Was consolidation wave 4, and higher high at 1.618 fib wave 5? IF we have 5 waves up, THEN look for abc correction of the 5 waves.

Daily chart shows a lower high made. Look for potential larger pullback. This is great for gold bulls, as this means they can load up at lower and better prices.

Components of the $HUI for 09.02.2007

1) ABX (Barrick Gold)

The monthly chart shows price made a higher high, where there were sellers and profit-taking. The move up off the low made in 2001 looks corrective in nature, with overlapping waves and price action. Possible lower high in place, with price unable to close for the month above the prior high of $32.87

2) AEM (Agnico Eagle Mines)

The monthly chart shows a new high in price made in last month. The move up to new highs the past year was made with divergence in the CCI indicator.

3) AUY (Yamana Gold Inc)

The monthly chart shows a doji right at the 34ema for support, which also coincides with the .50 fib level. Chart remains weak for now, as price remains below the 8ema.

4) CDE (Coeur D Alene)

Monthly chart shows a double top made at the $7.75 level where strong selling is evident. Price is currently at prior backend support. No clear evidence of strong buying. Chart pattern indicates weakness currently.

5) EGO (Eldorado Gold)

The monthly chart shows relentless selling for the month of July. However, early buyers stepped back into the stock near the .618 fib level. Price is currently stuck in a range. IF it continues up, THEN look for the high to be resistance. IF it continues lower, THEN look for the low to be support.

6) GFI (Gold fields Ltd ADS

Monthly chart shows a potential hammer. Watch for early buying. Price is currently below 34ema, and also below a key LIS at the $17.50 level. No strong buy signal as of yet.

7) GG (Goldcorp Inc)

Monthly chart shows possible support off the $20.37 low. Currently there is a potential double bottom.

8) GOLD ( Randgold Res Ltd)

Monthly chart shows price in consolidation. Is this wave 4 with wave 5 to come? Price seems to be holding at support of $22 area.

9) GSS (Golden Star Res Ltd)

Monthly chart shows price in small trading range since early 2005, where price found support off the .786 fib level. Bulls were unable to keep price above the small LIS at the $4 level. Chart still shows weakness, with no evidence of strong buying as of yet.

10) HL (Hecla Mining Co)

Monthly chart shows a slightly higher high made in april 2007. However, the bulls were unable to keep the price above the prior high and key LIS of $9.31. IF the current support breaks, THEN look for a test of the prior key low at the $3 level.

11) HMY (Harmony Gold)

The monthly chart shows price to be stuck in an ugly large consolidation/trading range. Sellers came out in earnest during the month of August. No evidence of early buying as of yet for this stock. This is one of the worse performing stocks in the $HUI index.

12) IAG (Iamgold Corp)

Monthly chart shows strong selling since high was made a year ago, September 2006. Relentless selling once again last month, making a lower high on the charts. This another one of the worse-performing stocks in the index.

13) KGC (Kinross Gold)

Monthly chart shows early buying last week. Will the buying continue? Watch the daily and weekly charts for early signs.

14) MDG (Meridian Gold)

Monthly chart shows price in a consolidation/trading range, with $21.50 area as support. Early buyers stepped back into this stock last week of August. No clear buying signal evident. Need to watch the daily and weekly charts for early signals of strength in the buying.

15) NEM (Newmont Mining)

Monthly chart shows a possible 5 waves up pattern into the $62.95 high. It also shows a potential 5 waves down into the .50 fib level for support. Early buying evident in the last 2 months. IF buyers step back into this stock, THEN look for first target to be the .382 fib level of $47.50ish, then the .618 fib at $53.50ish.