Thursday, October 20, 2016 4:23:35 PM
Gold did hold 200 SMA, even if barely. Considering tomorrow there is no major news...will see if Gold can base and go up from here again.
IMO, the USD strength has to be running on fumes. UUP will be trading well above it EMA 8 for the 14th consecutive day tomorrow. In other words, it's gone almost twice as long as the EMA time period without even touching it. If the average is over 8 days and it's been 14 days since it's touched it...that leads me to believe some sort of breather for USD is due (although, Gold/USD haven't exactly been trading opposite of late, so could be irrelevant).
Liking the candle formation on the weekly in GDX too. A long white candle after a doji and close back above 40 MA (assuming GDX closes above 24.08 tomorrow).
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