ab123123

ab123123

The S&P 500 has had quite a run however it looks like it has now reached the top of a larger bullish channel. The RSI also indicates that it is overbought in the short term and is due a correction, whilst the MACD suggests its about to turn or is on the cusp of turning downwards.

ab123123

So everyone was waiting for the breakout and it happened. However the problem for me was glaring - it broke in the wrong direction! US 10 year treasuries sold off, Stock markets hit all time highs, gold should have broken down not up, therefore it made no sense. However, the fact that gold is still holding on to 1490 when stock markets have now breached all...

ab123123

I said a few weeks ago gold is in no mans land and directionless. Since then we've gone sideways and pretty much where we started. However, its looking like things are going to come to a head soon. We have the main channel in the green bars going down. But within the channel we have a triangle building up between the blue line and its going to break out. Which...

ab123123

A channel is forming on Gold and its currently right in the middle of it. Gold is sitting right on the 50 Day MA, the trend is not clear. The Stochastic suggests its turned up whilst the MACD suggests its still in a downtrend. Great. Therefore you may need to be patient to see something form on the technicals again. In the upcoming days, Gold will just move...