Published an idea on 9/13 on this one focusing on the RSI divergence.
Now it is making another divergence high after correction/consolidation. RSI, MFI and other are still showing divergence at this point. Another testimony that divergence highs for strong stocks are also a play to consider -- that is, buy pullback and adding positions as opposed to disposing...
Let's see if this is a valid buy signal here
Disclaimer, this is only for entertainment and education purposes and doesn't serve by any means as a buy or sell recommendation.
the RSI divergence with price is worrisome at this point. guts feeling is buy but technical says otherwise. Same as Barrick gold chart. suspect that GDX will demonstrate similar pattern.
Comments/feedback welcome.
Short - Term: SHORT GOLD watch at key levels.
Currently using GLL, DZZ, and one other as a medium to short the market.
Considering INVERSE gold miner ETFs for TUES buys. Also watching out for FOMC meeting as well as ECB. WED will be when the rubber meets the road.
* Took profits on all gold mining...
