EZ-PnF V2.1 Sample chart of the XAU index (05/19/98):
- The chart is a 3 box reversal Point and Figure chart.
- The chart is based on daily high and daily low prices.
- The chart is a 2% logrithmic chart, ie each chart box represents
a price change of 2% of the value of the box above or below it.
- Three possible support prices and five possible resistance prices
are shown, as well as the support/resistance lines.
- A 'resistance' or 'support' point is a price where an issue's upward
or downward price movement may 'stall'. The ultimate result of the 'stall'
may be either a continuation or a reversal of price movement, depending
on whether there are more or less sellers than buyers at the specific price
- The XAU is trading within an overall bullish trading channel. The
chart may be forming what is called 'a broadening top' (a buy signal immediately
followed by a sell signal with a final upsurge to the buy side). However,
the pattern has not yet fully developed and it may be a false pattern.
The XAU is at support point S1. Support may be seen at points S1, through
S3. Support point S3 must hold to preserve the overall bulish trading channel.
EZ-PnF © Copyright 1992,1998 by Ben
Antanaitis, Jr., All Rights Reserved.