DP Weekly Wrap - GOLD: SPY, Dollar Weak, Gold Strong
By: Carl Swenlin | September 8, 2017 IT Trend Model: BUY
as of 7/31/2017 LT Trend Model: BUY
as of 4/12/2017
Gold's breakout from the recent trading range is now 'decisive,' meaning that it is at least three percent above the point of breakout. The daily PMO is overbought relative to its recent range, but PMO 2.0 or higher is more typical of a bull market. Gold is in a bull market, but we still need to see sentiment turn bullish before we can consider the bull market to be in full force.
The breakout through the bear market declining tops line is clearly a decisive move. Price needs to break through the resistance line drawn across the 2016 top in order to establish a long-term rising trend. http://stockcharts.com/articles/decisionpoint/2017/09/dp-weekly-wrap-dollar-weak-gold-strong-.html • DiscoverGold Click on "In reply to", for Authors past commentaries *** For Market Direction and Trends visit our board: https://investorshub.advfn.com/Market-Direction-and-Trends-26249/