InvestorsHub Logo
Boards
News
Market Data
Markets
Discover
Discover
AI Subscribe Login/Register account icon
S&P 500
5,732.93
(
0.25%
)
US TECH 100
19,426.00
(
0.54%
)
Dow Jones
42,208.22
(
0.20%
)
Brent Oil
74.24
(
-0.44%
)
Bitcoin
64,355.64
(
0.14%
)
Post# of 51848
Next 10
Reply Private New
Public Reply Private Reply New Post
Keep Last Read
Replies (2) Keep Next 10 Report Keyboard Shortcuts
Replies (2) Next 10 Prev Next

techcharter

Send PM Follow Ignore
Followers 24
Posts 2281
Boards Moderated 0
Alias Born 06/03/2004

techcharter

Re: None

Wednesday, 06/30/2010 8:36:18 AM

Wednesday, June 30, 2010 8:36:18 AM

Post# of 51848
GOLD also Topping

The rally out of the late may '10 dip has been very choppy. The pattern does not look motive at all. The chart is starting to roll over. The price has not broken the lower trendline, so it's more difficult to call the top. Indicators such as MACD, stochastices and RSI are flat. While this is not a true divergence, it does not follow the price rise. There is underlying weakness.

With crude oil and gold topping / topped in synch, it signals deflationary economic contraction ahead. A more complete analysis would include looking at other metals such as copper, steel, and silver for similar patterns.


http://stockcharts.com/h-sc/ui?s=$GOLD&p=D&yr=0&mn=6&dy=0&id=p12875214721
Public Reply Private Reply New Post
Keep Last Read
Replies (2) Keep Last Read Next 10 Report Keyboard Shortcuts
Replies (2) Next 10 Prev Next
Join InvestorsHub

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.

Sign Up