Gold may be currently showing a W formation. W formations are typically very bullish. Keep an eye on the right side for confirmation. Click on the GLD graph to expand. Stochastics (below) also show that gold should be moving higher but the fast stochastics are rapidly approaching overbought conditions.
Fundamentally however, I believe gold should be going lower, at least for the early summer. It all depends on the time frame.
Thursday, June 19, 2008
Gold's W Formation
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June
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- Zenn has the Potential for Disruption in the Auto ...
- ETF and Index Correlation Study for 2007 and 2008
- Turning to GPS To Save Money on Oil
- Gold's W Formation
- Noront, NOT.V, Currently On Sale
- Investing in Argentina? This is Not the Best Time.
- Correlation of the Major Indexes and ETFs
- The Perils of Shorting Bonds
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