Replies to post #38416 on GOLDBUGS AMEX Goldbugs Index (GOLD)

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:::: GOLD - DecisionPoint Weekly Wrap ::::
By Carl Swenlin | May 20, 2017

GOLD

IT Trend Model: NEUTRAL as of 5/11/2017

LT Trend Model: BUY as of 4/12/2017

Gold's reaction to stocks pulling back was to extend the in-progress rally. The PMO is rising, but it looks like it wants to top. Gold sentiment never got bullish, in spite of the one-day pop, and I'm getting a neutral message from the chart. Note that all the EMAs are close together, and next week a new IT Trend Model BUY signal will be generated unless price drops below the 20EMA and 50EMA. Could happen, but it is not likely to clear the picture much.



The weekly chart shows gold still in a triangle formation, and the weekly PMO turned up this week.



http://stockcharts.com/articles/decisionpoint/2017/05/decisionpoint-weekly-wrap-5192017.html

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