Trend following Gold update

gold trend continues

This is pure trend following. After a major breakout, we are next looking at Gold (GC) S/R (Support and Resistance Price Reversals) to indicate a continuation of the Bull run. Gold, on a long term basis, has been outperforming the S&P 500 Index since early May.

So next, have two S/Rs to look at. One is a relatively minor Weekly S/R, and, then a Major Monthly S/R. These two levels are $1,434 and %1,529.

1: Stock Chart of the gold S/R at $1,434:

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2: Stock chart of the gold S/R at $1.528:

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Trend following The Gold Miners Index

On a long term basis, Gold mining stocks, US Treasury Bonds, and gold,  are outperforming The S&P 500 Index. As usual, the reporters on bubblevision aren’t covering this. Instead they have OCD over the latest gimmick from “the social network”.

We can see on the Gold Miners Index (GDM) (GDX) chart, Weekly lookbacks, major S/R (Support and Resistance price reversal) from February, at the $662.10. To continue Bullish, we want to see it close over, on a Weekly and Monthly basis.

Stock chart of the Gold Miners Index (GDM):

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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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Gold Miners Index – selling continues

The gold miner stock sell off continues

The Gold Miners Index (GDM) (GDX) continues to break S/R (Support and Resistance Price levels) on a Weekly and Monthly Basis. The next Price Reversal below is at $568.10, trading at $581 today. The short term oscillators such as The RSI are oversold. So, we’ll if a BTD (Buy the dip) develops.

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Gold Miners Index– trend following analysis

gold mining stocks coming down

Gold Miners Index (GDM) (GDX) the Index is breaking long term support. The Monthly and Weekly S/R (Support and Resistance Price Level) is $598.50, currently trading intraday at $593.62. The Index today is trading under 10% annualized growth rate, over 200 days, but over 5%, over 200 days.

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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.