Taking A Look At Gold

Here's┬áthe daily chart of gold: Looking at the ADX indicator, you can see that the negative DI line is now firmly above the +ve DI line, clearly showing that bears are in control. The MACD indicator is also negative, having crossed over its signal line just before the end of January. Both lines are pointing downward, a bearish sign. The histogram is also getting larger, showing the … [Read more...]

Gold Shares – Pointing Up Or Down?

Gold shares lead the way. Right? Then what do you think about GDX and GDXJ both finishing the day with outside reversal day patterns? And GDXJ   Otherwise known as bearish engulfing patterns, these often lead the way down, especially if confirmed by a lower candlestick bar the next day. Only a week ago, we had another set of outside reversal day patterns for both … [Read more...]