Loading ...Gold Hourly
I was looking at the hourly spot gold chart tonight. It strikes me that the current action is very corrective and sideways unless it breaks above my purple resistance line. I’ve shown the bigger picture below….
followed by a zoom in on the same chart……….
i have the same line .. drawn from a projected slope off a fork… i also have much steeper fork..but wonder if it might morph into a less steep trend.. the upper boundary of the fork channel would come in around the 1190 area… i was also noticing my ultra short term channels for gdx and gdxj (really short term) show a divergence between gdx and gdxj.. for what ever reason .. gdxj has broken down out of its short term channel…. creating a less steep trend.. while gdx is nearly at the top of its channel.
http://charts.dacharts.net/2015-10-11/d1007.png
http://charts.dacharts.net/2015-10-11/d1013.png
gdx..