spot gold index
So this thing certainly is not on the Bullish Trend List.
Trend following the sell-off, The Gold Miners Index $GDM $GDX is testing another S/R (Support and Resistance Price Level) at $576.60. So this thing certainly is not on the Bullish Trend List. When it returns to a trend in excess of, or at a minimum of, 10% annualized over 200 days ma, it’ll be back on the Upward Trend List. This index is one of 20 we monitor.
Market Chart 63 day, daily:
gold losing momentum
Spot Gold (GC) (GLD) today, trading at $1,276, is under trend of 5% annualized growth rate over 200 days, and, under major S/R (Support and Resistance Price Levels), both March Monthly and Weekly. S/R is $1,281 on this chart.
Trend following – no predictions, no forecasts.
gold in low momentum trend
Spot Gold (GC) testing last Month’s S/R (Support and Resistance Price levels) at $1,281.
And testing last Week’s S/R at $1,285.
The Long term trend is Upward at or exceeding a 5% annualized growth over 200 days ma. (Low momentum).
The Relative Strength vs. The S&P 500 Index has turned negative, over a 200 day ma. The confidence in the private sector (US equities), by investors, is trending higher.
Gold $GC $GLD at $1,299 closed the week under a Weekly Bearish Reversal of $1,305. #gold #trendfollowing #investing
and the Weekly Bullish S/R Price level at $1,366 remains a challenge.
$GC $GLD Using the 5% Fixed Rate of Return (annualized) over 200 days versus the price, Gold is trading 3.5% above trend.
