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Friday, April 14, 2017 3:46:14 PM
By Carl Swenlin | April 14, 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 BUY signal as of 4/12/2017, so our long-term posture is bullish.
On Wednesday the Long-Term Trend Model switched from SELL to BUY, and also price broke above the resistance line drawn from the February high. The technical picture looks good, but sentiment remains neutral, reflecting that buyers are not yet sold on gold's upside potential.
The weekly chart shows price challenging the long-term declining tops line, and the PMO is above its signal line and rising. A price breakout would be significant for the bulls.
http://stockcharts.com/articles/decisionpoint/2017/04/decisionpoint-weekly-wrap-4132017.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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