DOW Jones 30 / Gold Down Date.
stockcharts.com[l,a]wacaynay[de][pb40!b10!f]&pref=G
Gold continues to gain relative to the DOW mainly due to the later's weakness. Fifteen to one looking increasing likely, but to be at 5000 Dow and 325 Gold?
Below the HUI is shown along with the Slow Stos and the index's ratio to the price of Gold. One might observe that the Slow Stos are down in an area now from which rallies of significance have sprung during this bull phase. The CCI has a little rising bottom formation in negative territory, while the ratio of the index to Gold, which peaked back in June, is settling back to about mid-range for the period April to present.
Consolidation could complete here, though higher gold prices are seemingly needed to offset the general stock market October liquidation weight, OR we could see a further meandering, or after a pause, drop on down closer to the 200 day moving average. Frankly the middle possibility feels about right.
stockcharts.com[h,a]dbcaynay[d20011205,20021005][pc50!c200!c20!c13!f][iut!Uh14,3!Lj[$gold]!Ld20!Ll14]&pref=G
Weekly Gold - Stos still rising.
treasurestatefutures.com
But the same is true of the dollar's whose own steadiness is as good a reason why Gold is held under $325 as any.
treasurestatefutures.com
Gold on Gallemore's site shows declining trend indicator like most commodities, momentum indicator is still positive unlike Silver's which is negative.. Oh, someday, in the not tooooo distant future, if Gold could just climb like Cocoa.
chartingyourfutures.com
jims101 |
