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Thursday, April 10, 2014

Is gold going to go back up? - two charts


Here's two charts:


Gold is back above the Bollinger mean, EMA(16), and SMA(50), with MACD looking encouraging. What are the chances it stays above?



GDX is likewise above  the Bollinger mean, EMA(16), and SMA(50), with MACD looking encouraging.

I saw some post somewhere saying the Fibonacci thingie is important here. So maybe that has something to say. I dunno.

But I'm not particularly excited with the small amount of volume in these charts this time, compared to the larger volume that it took to get this high before. Also silver and GDXJ aren't looking as positive.


6 comments:

  1. I don't know about gold but this guy thinks goldbugs are about to pop. http://blog.kimblechartingsolutions.com/2014/04/stage-set-for-another-strong-rally-in-the-gold-bugs-index/

    gold bugs... if they came around my place I'd spray 'em with Raid.

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  2. Errrm, young man, that should be "Here are two charts", rather than "Here's two charts". Ahem.

    And fuck silver.

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    1. Alternative and acceptable spellings of a clear colloquialism pale into comparison with a basic grammar error, young man.

      Seriously, fuck silver.

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    2. Snappy! I might take that up as a hobby.

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