claydoctor

GLD WTI 2008 - 2011 correllations

Long
AMEX:GLD   SPDR Gold Trust
1
Double and triple bottoms in GLD, and how oil acts at those moments. Could we meander in WTI, searching for a bottom, while GLD spikes? Once again, this 3rd time will be its own bird IMO, but flies in the same flock. Watching GLD here, did it set its double (wide) bottom, or will it set its double bottom (skinny)? Either way it chooses, next trend is up IMO. Blocking out the world noise, just looking at history repeating, where usually it does. Human nature hasn't changed much. Greed and fear. Russia's gold is its best support right now, fort an economy teatering on the brink. Greece, ECB bailout, Russia, China - the only nation who can? Who's next, the US, who can bail us out? I am hearing crickets, just crickets.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.