Could gold go long?
Updated
There is a breakout to the upside on the weekly chart. DMI looks consistent with an uptrend. RSI shows some hesitation and perhaps a break in the structure from its prior convergence with the price action.
We must admit, the trend is still intact, and we barely beat the recent highs. I will contemplate a long order at 1276 with stops at 1265. My instinct is telling me that gold is going to go upwards because some miners such as NAK are starting to look bullish. See my idea for NAK.
We must admit, the trend is still intact, and we barely beat the recent highs. I will contemplate a long order at 1276 with stops at 1265. My instinct is telling me that gold is going to go upwards because some miners such as NAK are starting to look bullish. See my idea for NAK.
Note
Did not take this trade, but looks like this was certainly a long trade. Go Miners!
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