Long term trend has plunged into bearish (silver outperforms) on the monthly NMACD. We will likely see consolidation patterns retesting fibs and moving average confluences, then legs down in short periods. This is a very hard pair to trade on short time frames, imo. It is a good indicator of where we are this phase of the gold bull market. We will likely see gold...
Title says it all. When NMACD hits these levels, price tends to consolidate for several weeks/months before approaching similar highs. The green line is the delineation between bear and bull market, which its clear we are still in a bull market. Look back at the previous bull market to see how price acted after hitting this NMACD level while still in a bull market.
The chart demonstrates that we are entering a market where Gold will outperform the Dow by considerable margin. The NMACD on the bottom is a normalized MACD to remove bullish bias, showing that when above zero on the long term chart, gold outperforms the dow.
Everyone and their dog knows gold is bullish, this chart just puts it into perspective.