Gold Miners ETF (GDX)

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GOLD DecisionPoint Weekly Wrap
By Carl Swenlin | March 24, 2017

Welcome to the DecisionPoint Weekly Wrap, where I make an end-of-week assessment of the internal condition, and trend of the stock market (S&P 500), the U.S. Dollar, Gold, Crude Oil, and Bonds.

GOLD: As of 2/3/2016 Gold is on an Intermediate-Term Trend Model BUY signal. The Long-Term Trend Model, which informs our long-term outlook, is on a SELL signal as of 11/25/2016, so our long-term posture is bearish.

Gold continues to improve, as the PMO has bottomed and moved above its signal line. Also, PHYS persists in selling at a premium, which shows buyers are bullish.



The weekly chart shows the PMO rising above its signal line, which is evidence of improving internals in this time frame. Price is currently laboring in a triangle formation. Based upon the PMO configuration at this time, I would expect the triangle to resolve upward. . .



http://stockcharts.com/articles/decisionpoint/2017/03/decisionpoint-weekly-wrap.html

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