GLD Negative Divergance ?
Highrollers earlier chart looks very bearish. It shows MACD trending down as price advances. Here’s my version of the same chart…
But, it’s worth noting that it isn’t the case on the 6 month view…
And when you look at the last 5 years it isn’t there either…
When you zoom out further, the picture is very different…
It’s always worth looking at the whole picture to retain perspective. A pullback/correction is fine, just as long as the support lines hold.
Thanks so much for the great charts and all the work on them!
Always welcome Steins – it keeps me thinking as well 🙂
why would daily macd be expected to look the same as 6 month and monthly???. My red line showing my expected target is hardly a bearish view as purposed in your response. sheeesh