GOLDBUGS AMEX Goldbugs Index (GOLD)

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The Ord Oracle
By: Tim Ord | October 21, 2020

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Above is the weekly GDX/GLD ratio with its RSI in the top window. Intermediate-term bullish signals are triggered when the weekly RSI for the GDX/GLD ratio falls below 30. The blue vertical lines on the chart show these signals where triggered. Another useful part of this chart is that, when the weekly RSI of the GDX/GLD ratio stays above the 50 level, the market is considered in an uptrend; the current reading is 55.73. The pink-shaded areas are when the weekly RSI is below 50. So far, the weekly RSI has remained above 50 since the March low. Over the next two weeks (the election being November 3) the gold market may become quiet. The daily signals are about split between buy and sell on today's close, which is neutral. Markets that decline into elections usually rally after (give or take) five days out. Long GDX on 10/9/20 at 40.78.

Tim Ord,

Editor

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