The Gold and Silver Index (XAU) represents a group of precious metal mining stocks. It is in a major decline from the 2010 top.
We have watched the XAU form a massive head and shoulders pattern for over three years. The neckline was violated this year, and the technical downside target was somewhat below the horizontal support line drawn from the 2008 low, so it would seem that there is more downside to go before the target is reached.
The following is an excerpt from the December 13th, 2013 blog for Decision Point subscribers.
….readl more HERE
