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Saturday, October 20, 2018 10:00:55 AM
By: Carl Swenlin | October 19, 2018
GOLD
IT Trend Model: BUY as of 10/19/2018
LT Trend Model: SELL as of 6/22/2018
GOLD Daily Chart: Gold is slowly building a bullish case. After a solid breakout, gold has moved into a bullish a flag formation, and the daily PMO is above the zero line and rising. But the big deal today is that the 20EMA crossed up through the 50EMA, generating an IT Trend Model BUY signal. The thing last needed is for sentiment to turn positive, because a rally will not be sustained if sentiment remains bearish.
GOLD Weekly Chart: The picture remains modestly positive -- the weekly PMO has turned up from relatively oversold levels, and there has been a price breakout.
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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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