The current panic in the stock market is fueling the rise of the conspiracy theorists, who fundamentally believe that moving to gold will safeguard their future when the bomb drops and they need to pay for fuel in gold coins. Unfortunately for them, this is never going to happen (or if it does I will be long gone).
However, there is a sudden perk up in the technicals for gold, both RSI and CMF are showing that the GOLD RUSH is starting. Having spent the last 5 years in a bear market this could be something to enjoy. But let's not get too excited,
GLD is way below the Ichimoku cloud, and it will take time to turn around your devastating bear attack.
I am remaining neutral on this. There is a sign of something good, but gold's fate is in the hands of the stock market.
However, there is a sudden perk up in the technicals for gold, both RSI and CMF are showing that the GOLD RUSH is starting. Having spent the last 5 years in a bear market this could be something to enjoy. But let's not get too excited,
GLD is way below the Ichimoku cloud, and it will take time to turn around your devastating bear attack.I am remaining neutral on this. There is a sign of something good, but gold's fate is in the hands of the stock market.
Barry D. Moore CFTe Financial Technician
12 Proven Winning Chart Patterns
liberatedstocktrader.com/chart-patterns-reliable-profitable/
MOSES Beat The Market with TradingView:
liberatedstocktrader.com/moses
12 Proven Winning Chart Patterns
liberatedstocktrader.com/chart-patterns-reliable-profitable/
MOSES Beat The Market with TradingView:
liberatedstocktrader.com/moses
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Barry D. Moore CFTe Financial Technician
12 Proven Winning Chart Patterns
liberatedstocktrader.com/chart-patterns-reliable-profitable/
MOSES Beat The Market with TradingView:
liberatedstocktrader.com/moses
12 Proven Winning Chart Patterns
liberatedstocktrader.com/chart-patterns-reliable-profitable/
MOSES Beat The Market with TradingView:
liberatedstocktrader.com/moses
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.