Four Days From A Buy Signal In Gold?

May 15 20:05 2018 Print This Article

The Gold chart gapped below the 200 DMA again today. This is the fourth time in the last year. However, look at the trend after the gap down below the green moving average line. Approximately one week later, Gold reversed and started a long up trend in the three previous cases.

If that is going to work again, we should see a bottom formation early next week.

Below is the Bullish Percent Index for the gold miners. It was starting to look very bullish by rising above 50%. We'll see if we get a pullback.

I am watching closely to see if this transpires because the industrial metals stocks were starting to perk up until the $USD soared today. Sometimes the industrial metal miners can be a clue. 

Good trading,

Greg Schnell, CMT, MFTA

Read More

About Article Author

Stockcharts.com

StockCharts.com was founded in 1999 by Chip Anderson, a 10-year veteran of Microsoft. StockCharts.com is a website that provides online investors with high-quality financial charts for making better investing decisions. StockCharts.com is focused on Technical Analysis - the study of price history via charts. They provide award-winning analysis tools, market commentary from respected analysts like John Murphy and Martin Pring, and a huge collection of educational resources that can help anyone become a better, more informed investor.

Related Items

MannKind Corporation (MNKD) Stock: Here’s Why Investors Are So Excited

MannKind Corporation (NASDAQ: MNKD) is running up in the market again this morning as investor excitement continues to run high. So, what’s the deal? Why are investors so excited? Today, we’ll talk about: Why investors are so excited about MNKD stock; what we’re seeing in the market; and what ...

SPI Energy (SPI) Stock: Rocketing On New US Assets

spiSPI Energy Co Ltd (NASDAQ: SPI) is having an overwhelmingly strong day in the market today, and for good reason. The company announced new operations in the United States. Of course, with tensions between the US and China on trade, this proved to be exciting news for investors who are sending the ...

Be Careful With These Stocks: YECO | CREG | CCCL | CCIH

Yulong Eco-Materials Ltd (NASDAQ: YECO), China Recycling Energy Corporation (NASDAQ: CREG), China Ceramics Co Ltd (NASDAQ: CCCL), and ChinaCache International Holdings Ltd (NASDAQ: CCIH) are all flying in the trading session this morning, all with gains over 10% and one trading at two times what it ...

October 17, 2018

We are most used to thinking of financial repression as being applied by governments through a low-interest-rate policy, but as noted on June 2, 2015, for instance, another way is to require regulated entities to hold government debt. This sometimes has spectacular effects: A trio of Canadian banks ...

This Entertainment Leader is Still Crushing It

The S&P 500 fell to its lowest level since early July and pierced its 200-day moving average last week. Chartists looking for stocks that held up better during this decline can use these levels for comparison. Stocks that did not break below their August lows and 200-day moving averages held up bet ...

Morning News: October 17, 2018

Don’t Mention the Oil Price – U.S. Legal Threat Prompts Change at OPEC No, Trump’s Tax Cut Isn’t Paying for Itself (At Least Not Yet) Trump Economy Needs California, Which Scorns Trump Economics Trump Says The Federal Reserve Is the “Biggest Threat” to His Presidency. So Why Hasn’t He ...

HEALTHCARE HAS BECOME THE YEAR' STRONGEST SECTOR -- AND IS BEING LEAD HIGHER BY DRUG STOCKS

DEFENSIVE HEALTHCARE SECTOR CONTINUES TO LEAD ... Healthcare has emerged as the market's strongest sector. Not only has healthcare been the market's strongest sector over the last month, the last three months, and the last six months. It's now the top performer for the year. Its relative strength r ...

Ahead of the FOMC Minutes

Both Comex digital metals are up this morning ahead of the 2:00 pm EDT release of the minutes to last month's FOMC. read more ...

China Ceramics (CCCL) Stock: Here’s Why It’s Climbing

China Ceramics Co Ltd (NASDAQ: CCCL) is flying early on in the trading session this morning. However, if you go digging for press releases or SEC filings, you’re not going to find any. Nonetheless, we believe that we’ve found the reason for the gains. Today, we’ll talk about: Why CCCL is heade ...