Royal Gold Daily, Weekly & Monthly: Bullish

I am not even bullish yet on the gold sector, but my largest gold stock holding (now that I’ve trimmed long-term hold KL down to size) is RGLD, and it is acting like it is not a gold stock. *

The daily chart is breaking upward from a handle consolidation we have been noting in NFTRH.

rgld

Dialing out to a weekly view you can see that this handle is just part of a breakout from a larger handle from 2017, which itself came after a rise from an even larger handle from 2016.

rgld

The monthly however, gives me a bit of pause because I fully remember the HUI Cup that once projected to near 900 but saw the index breakout but flop into an eventual bear market from the low 600s. This is the 3rd time RGLD is knocking on resistance in the low 90s and though it may break through I am not going to extrapolate the upside measurement because I don’t believe in it (fool me once… ).

rgld

Anyway, MACD, RSI and AROON are positive across all time frames and the daily chart is controlling the near-term. It looks bullish. Let’s see if volume comes in.

* Sure, it’s a gold stock. But as a royalty/streaming company it has less execution risk than the miners, which tend to be loaded with risk aplenty.

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