Sunday, September 20, 2015

Must-See Chart of Gold

Here's a chart of gold you should really see.
  • In the short term, gold is strong. In fact, it's outpeforming the CRB Index, a basket of commodities. And its Stock Charts Technical Rank (SCTR) is 73.6. This means gold is stronger than most stocks.
  • And sure enough, gold has made a double bottom on a weekly chart.
  • Also, we've just gotten a bullish MACD (momentum) signal on the weekly gold chart.
  • What's the one thing missing? Strong momentum. We need bullish momentum to confirm this move.
Stay tuned

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(Updated, larger chart)

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