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Non-Tech : The Woodshed
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To: gold$10k who wrote (54245)8/27/2016 4:31:27 PM
From: daveinmarinca1 Recommendation

Recommended By
bostma

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Claude Maund put out (another) bearish call on gold yesterday afternoon marketoracle.co.uk However, his article closes with a caveat….. he refers to the 20yr TLT as a proxy to track treasuries …and closes with this statement:

“On the 8-month chart for Treasury proxy TLT we see that the neat Symmetrical Triangle that has been forming in recent weeks is now closing up. Various factors suggest an upside breakout, although the gap between the moving averages is now large, so the opposite outcome is possible, depending on the market's interpretation of the Fed. . .”

Well, it broke down closing at 138.36, below his blue lower up-sloping trend line. (consistent with your breakout of the triangle to the upside on the TNT) Monthly RSI on the TLT turned negative in July and the MACD crossed this week…..both negative indicators. Both indicators dipped midweek on the daily with the price dropping below the 50day MA for the first time in three months.

More indication..... "market's interpretation of the Fed" ....TLT proxy showing a trend change.... rising treasury yields and falling prices…... positive for gold.
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