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Weekly Wrap (Gold) »» Daily & Weekly Charts
By: Carl Swenlin | January 11, 2019

IT Trend Model: BUY as of 10/19/2018

LT Trend Model: BUY as of 1/8/2019

GOLD Daily Chart: On Monday the 50EMA crossed up through the 200EMA, generating an LT Trend Model BUY signal. The mini-parabolic that I recently identified has resolved by price moving sideways through the arc instead of a breakdown. The daily PMO is overbought and has topped, so a pullback could still be in the cards.



GOLD Weekly Chart: Positive. The weekly PMO looks strong, and the next obvious resistance is well above at 1375.



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