Here ya go, Cuadra G. They're slight, but they're valid, I'm pretty sure. Gold has been charging ahead. With the latest breakout $1000 is in reach by the measured move. Being a pretty large psychological barrier, I wouldn't be one bit surprised if it hits $1000 and then has a $50-100 correction. You can see how in the Weekly RSI it barely dipped back into the regular range before the next breakout sending it back into overbought. I expect it's not done yet, but it's good to be aware of at the same time.
I took some time to look for an article Chris wrote once. I thought it was in the Start Here section of CRISS, but I didn't find it. In it, he was commenting on how a recently run through correction had brought the indicators close to oversold which was good, but the Weekly RSI only got to the 50-line and I forget what the MACD was doing. Anyways, the dailies looked good, but the weeklies were cause for concern, that's why I found the weekly gold so interesting.
No comments:
Post a Comment