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Saturday, August 26, 2017 8:55:38 PM
By Carl Swenlin | August 25, 2017
GOLD
IT Trend Model: BUY as of 7/31/2017
LT Trend Model: BUY as of 4/12/2017
Gold is being squeezed into the apex of a rising triangle, the top of which is the upper limit of a five-month trading range. With a rising triangle we normally expect an upside breakout, and today's breakdown of the dollar may assist that outcome. Sentiment remains bearish. Renewed weakness in the dollar makes me one click more bullish.
Gold has made a decisive break above the bear market declining tops line, and the weekly PMO is positive.
http://d.stockcharts.com/img/articles/2017/08/15036941319641794513826.png
http://stockcharts.com/articles/decisionpoint/2017/08/dp-weekly-wrap-smaller-cap-stocks-lag.html
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