Monday, February 23, 2015

Dammit this chart so makes me want to go long gold


Dammit this is so tempting, if only technical analysis meant anything and if only we didn't believe in gold seasonality:


Gold ex-USD has spent a week bouncing on the SMA(50).



That could mean it's still maintaining a healthy uptrend to everyone in the world except Americans, but it's just working off an overbought condition.

A conclusive break of GLD:UDN's SMA(50) means you flush your positions and stay out of miners. But a pop back upward from here means there's more junior miner trading to be done.

My problem is that gold miners haven't puked alongside the GLD:UDN chart: usually we want to see them puke before buying back. Then again, some stocks (like B2Clive) have already puked back down.

Hard to know what to do!


No comments:

Post a Comment