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Friday, June 02, 2017 8:57:56 AM
By Erin Heim | June 1, 2017
GOLD
IT Trend Model: BUY as of 5/22/2017
LT Trend Model: BUY as of 4/12/2017
I went ahead a annotated a bull flag on Gold and on Bonds. We got the breakout so the minimum upside target should be around $1305 which matches nicely with overhead resistance. I'm very concerned about price overcoming resistance along the long-term declining tops line that was established in 2012. Price needs to puncture this resistance and put in a decisive 3%+ move above it. So while I'm still bullish on Gold, the short term is concerning. Note the negative divergence between OBV tops and price tops. I'll feel much better when long-term resistance is hurdled. . .
http://stockcharts.com/articles/decisionpoint/2017/06/dp-alert-rally-pop-internal-strength-prevails---sp-600-ijr-new-ittm-buy-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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