Wednesday, June 8, 2016

A quick update on gold

I have practically no time this week so just a quick update.Gold in the early stages of a bull market(Gold-SPX Ratio revisited:Another proof for Gold's bull case).Currently is moving within a trading range(Gold and GDX ready for a pause until year end).Taking a closer look we can see that gold is approaching resistance at 1255-1265 with negative RSI divergence .A move initially  towards 1235 is very possible.