Gold Mining Index – testing support, again

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:

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Spot Gold

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.

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Trend following – no predictions, no forecasts.

Gold trend following analysis

gold in low momentum trend

Spot Gold  (GC) testing last Month’s S/R (Support and Resistance Price levels) at $1,281.

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And testing last Week’s S/R at $1,285.

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The Long term trend is Upward at or exceeding a 5% annualized growth over 200 days ma. (Low momentum).

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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.

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Spot Gold breaks Weekly Reversal

Gold $GC $GLD at $1,299 closed the week under a Weekly Bearish Reversal of $1,305. #gold #trendfollowing #investing

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Spot Gold Weekly


and the Weekly Bullish S/R Price level at $1,366 remains a challenge.

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Spot Gold Weekly