Speaking of trendlines:
The XAU approached its upper trendline a few days ago and hit it today,right on cue, depending on exactly how one draws em.
I still have it in a 3 of 5 up, with 7 minors of the 3 likely completed. Highly likely to end at 9 minors, between 75/80, then pull back during the 4th. If so we have a little dip here then another shot up, into the mini rising wedge, before a more major correction. It wants to pull back is my read, but the POG and world events aren't helping it do so.
I noticed the XAU seemingly skittish versus the POG a few plus days ago.
HUI counts no different.
Trade at your own risk. Leaders like DROOY have reason to pull back earlier than laggards, the whole reason I pulled the trigger. Plus I didn't like holding DROOY with them kind of gains. SA stocks aren't to my LT liking.
Re trading patient but not too patient would be the way to proceed, is my read. Slider is absolutely on the mark, as usual. The gold indexes are in no mans land, and under the right conditions they could blast on up, ewaves or no. |
