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Wednesday, April 05, 2017 9:01:26 AM
By Erin Heim | April 4, 2017
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.
Resistance was hit, but not overcome. Looking at the favorable Dollar chart, I'm only cautiously optimistic on Gold. I like that the PMO has accelerated upward as price reached resistance. The OBV reading moved above the previous OBV top which is good.
Technical Analysis is a windsock, not a crystal ball.
Happy Charting!
- Erin
http://stockcharts.com/articles/decisionpoint/2017/04/dp-alert-new-buy-signal-for-sp-100---sp-600-ijr-new-ittm-neutral-signal.html
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Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
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