Gold broke above MACD yesterday. Waiting for it to break above its 18-day MA for some more confirmation. MACD, RSI, ROC, ULT all headed up.
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Looks like the Dollar peaked near its .382 fib retracement. MACD is about to cross over, RSI, ULT, CCI, STOKES, all headed down. Just waiting on the ROC, MACD and the 18-day MA to confirm.
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DROOY (and HMY) holds a lot of upside potential especially on any good news from the labor negotiations and the Rand which I believe has topped and headed lower. I believe it has exceptional leverage to gold and price appreciation relative to the other gold stocks. Going back 236 days to last July's low, you can see how it has underperformed. Of course, when the rand was weakening in 2001, DROOY was an outperformer into the June 2002 peak. (See the 132 day period between Nov 2001 to Jun 2002).
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