Phil > looking at this trend, Gold looks positively bullish, wouldn't you agree?
Yes, I do. But two considerations
1. The chart is in USD and so is pertinent only to those in the US. In CAD, although the trend is still upwards, it is not nearly as strong or convincing as in USD
stockcharts.com[h,a]dalaynay[dj][pd150,2][ilb14!la12,26,9]
In Euros, the trend is sideways
stockcharts.com[h,a]dalaynay[dh][pd150,2][ilb14!la12,26,9]
And in South Africa, owing to the persistent Rand strength since 2002, the trend is downwards (although may be leveling out a bit recently)
stockcharts.com[h,a]dalaynay[dh][pd150,2][ilb14!la12,26,9]
2. There is a strong resistance level at +/- $430 which first has to be penetrated to confirm the trend. |
