Tuesday, March 3, 2015
Two goldbug charts and Crackberry
GDX's action, turning back from the Boll mean but then staying supported at the SMA(50), is positive. Damn I look at that action of the past few days and it's so tempting.
I know it's PDAC and we're supposed to dump and not come back til June. Then again, whoever's left in the gold miner market also knows this, and is probably dumping, and yet this is all the damage it can do to the chart?
GLD has popped above the EMA(6) which governed the Jan-Feb downtrend, which if you'll remember is a 50% retrace of the January gold ex-USD pop. It's also riding the Nov-Feb uptrend support line, and if you see a higher low that's doing a good job of not breaking down then it might just be a good price point to buy, right?
Hard to tell what to do. But the charts are showing me opportunities and I like that.