The current monthly candle is yellow which indicates that there is momentum behind price, or extreme trader optimism. May, June and July were all yellow candles as well which shows that there has been extreme optimism in the gold market for the past four months.
The ( ) shows the green line rising above the purple signal line which indicates short-term momentum behind price. Both lines are above the 50 level which is the midpoint of the total range. In general, when the green line is trending above the 50 level it indicates momentum in the intermediate-term while an reading below 50 would indicates momentum in the intermediate-term. Overall, the monthly for gold is since we have the green line trending above the purple signal line, both lines rising, and both lines are above the 50 level.
The Price Percent Oscillator( ) shows the green line rising above the purple signal line which indicates short-term momentum behind price. Both lines are above the 0 level which indicates that there is momentum in the intermediate-term for price as well. In general, when both the green line and purple signal line are trending above the 0 level it is considere a momentum indication for price, and vice versa when both lines are declining below 0.
The ( ) shows the green directional line trending above the purple directional line which indicates that there is a short-term behind price. The histogram in the background is green and rising which indicates that the short-term in price is increasing in strength. In general during an uptrend in price, you want to see the green direcitonal line above the purple direcitonal line and for the histogram to be rising as it is now.
Overall, the view on gold price remain with the expectation that gold and gold-related stocks will continue pushing higher this year, as well as silver and silver-related stocks. Current holdings are: GDX , GDXJ , GPL , CDE , HL, KGC , EXK , NGD , MUX , AG and physical silver since I expect silver to continue to outperform gold during this rally.