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Saturday, October 05, 2019 10:02:02 AM
By: Carl Swenlin | October 4, 2019
* (Click Read Full Story »»» at the bottom of the page for the charts to appear on the post)
GOLD
IT Trend Model: BUY as of 6/3/2019
LT Trend Model: BUY as of 1/8/2019
GOLD Daily Chart: On Monday the head and shoulders pattern "executed" (signaled a bearish resolution) by dropping below the neck line. This week we saw a price reversal, and the pattern was aborted.
GOLD Weekly Chart: The weekly PMO is overbought and topping, so I hesitate to think that there is not more downside (or at least sideways movement) to come.
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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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