Loading ...Gold Cycle Update
Not much has changed from my Cycle perspective on Gold here. From a time perspective, I am still looking for the next Intermediate Cycle Low in the early to mid-April timeframe. Here is an update on the 3 channels I am watching. Note the backtesting over the last sever days within these channels. Much depends on the USD here so I am also watching it closely.
I am still holding many of Spock’s Rocks but hedging with ZSL here. My second chart shows my ZSL hedge which is still profitable at this point.
Thanks so much for your charts….I get the feeling that gold is being propped up until the First Quarter Ends —sort of a window dressing enterprise designed to have the First Quarter Books look as good as possible…just a hunch
A Q from the ignorant swede NEMO.
I do not know much about TA, but do I spot a true “golden cross” In your chart??
As I understand it a proper “golden cross” is: Ascending 50 days MA crossing an ascending 200 days MA.
Just trying to learn, best to you!!
NEMO
Nemo, Yes that is a golden cross and I believe the long term trend is up but that does not mean that we can’t move into a Trading Cycle low to recharge the next leg up.