might be something to watch in the short term as there is an opportunity for gold
to turn around here. It may not turn, but it does have a couple of things going for it now. One is the recent last engulfing
type candle that came on Tuesday and the other is the positive divergence in the RSI
. That's not much but it might be enough. However, this is pure conjecture until GLD
can get above and stay above short term MA's. I'm just watching it and because of the way I trade I cannot consider gold
or, in this case GLD
, until the 9EMA crosses up through the 20MA. No one wants gold
now and the financial media has totally written it off. Hmm.