Folks, far be it from me to go all gold pumper on you, but also far be it from me not to show you things I find interesting, even if just very preliminary. So here is a closer look at a couple of components in the rambling gold miner, macro funda post from earlier. These are the kinds of things to look for when looking for an important low.
Gold/Industrial metals is actually not so preliminary, it’s above the SMA 50 and got a green MACD & RSI to boot. If it changes trend it’s good for the gold sector and not so good for the happy stuff. Now if only Palladium would play ball and drop vs. Gold.
Gold/Oil edged above the EMA 20. Last time it did that it failed miserably (along with mining sector fundamentals) in October. The red MACD and RSI are pointing in the right direction at least. Very prelim, but a potential to bottom (oh and ref. the terrible CoT data noted earlier for oil).
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