Gold is on the up and up. Weekly momentum remains INCREASINGLY BULLISH..

in #money • 8 years ago (edited)

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#Gold has awoken from its slumber. Since weekly momentum turned INCREASINGLY BULLISH at the start of the year - Gold has been on the up and up. Current momentum indicates a BO above 1375 resistance is very near. The USD continues to be super bearish and should head lower. IMHO.

The MACD formed a bullish up-cross during early-Q1, with an expanding positive histogram. Has re-established positive expansion during the week, indicating PA should move higher over the next several weeks to months. The Stochastic has continued to form bullish higher-lows since the start of the year. Also, a bullish up-cross was formed at that same time which should lead to more upside in PA over the next several weeks.

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#gold #preciousmetals #usd #dxy
8 years ago in #money by
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