All indicators are heading the wrong direction. Buy this index only if you are "4God" or "4losingyourmoney" ;^)
There is a negative divergence on all indicators as well. This is one ugly chart. If I were looking for something to buy and stumbled across this chart I'd be clicking on another link. Of course we're not ignorant of gold and its virtues so we watch....
These charts are basically more of the same. ADX is starting to turn up, however, and a word of caution...the black line of the ADX is indicative of strength of trend. Turning up means that the trend is getting stronger...and the trend is NOT up.
The good news(?) BGO fell thru and then regained the previous lows of 3.11 & 3.12 (closed @ 3.12 today).
The bad news. The 20dma has crossed below the 50dma. If it were me, I'd wait 'til that reverses. Also noted the volume. Confirms the ADX that distribution is going on.
You might (probably should) ask chichi to check it out for you. He's great about helping board members and smart as a tack! He has a lot more experience charting/trading too.
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